The plan covers the area within the ring road and incorporates the University Quarter, Molineux Quarter, Canalside Quarter, Interchange, St Peter's Cultural Quarter, Shopping Core, Westside and St John's and St George's.
Surrounding areas All Saints, Blakenhall and Graiseley, and West Park, including Chapel Ash, are also part of it.
The AAP identifies what sites should change in the future, through new development, and what sites should stay the same, through protection and enhancement.
It will help the council make planning application decisions up to 2026 and will guide improvements to shopping, offices, leisure, housing and transport.
Councillor John Reynolds, Cabinet Member for City Economy, said: "Regeneration schemes in the city centre are coming thick and fast, with £992 million investment either on site or in the pipeline.
"It is important there is a co-ordinated approach to new development, rejuvenating sites, and protecting the city's valuable assets.
"The AAP will help achieve this and will play a major role in defining how investment and development opportunities are progressed in the city centre over the next 10 years."
The AAP went through 3 rounds of formal public consultation between December 2013 and July 2015 before being submitted to government to be examined by an independent planning inspector.
The consultations all generated significant interest from a range of organisations, businesses and members of the public and included a number of one to one meetings with key stakeholders such as the University of Wolverhampton, Benson Elliot (owners of the Mander Centre) and London and Cambridge Properties (owners of the Wulfrun Centre).
The AAP has been given the green light by an independent planning inspector and it will go before Full Council for approval tonight (Wednesday).
- released: Wednesday 21 September, 2016