The hub, one of a number of similar developments around the city offering a range of services from under one roof, will welcome its first customers at 3pm on Monday (31 March, 2014).
The new hub is based at Whitburn Close and will offer a library and community centre as well as general information services.
Contractor AM Griffiths has carried out extensive modernisation work to revitalise the building, replacing windows and roof lights, repairing the flooring, upgrading the electrics and refurbishing the kitchen.
The new hub features a reconfigured library featuring PCs available to the public and a self service machine, a large refurbished hall which can be hired out for community events such as parties, a meeting room and a display space for exhibitions.
Councillor Elias Mattu, Wolverhampton City Council's Cabinet Member for Leisure and Communities, said: "This is an exciting development for Pendeford and the surrounding areas which we hope will not only increase the customer base of the library but also enable more people to take advantage of community facilities.
"Local people have played a key role in developing the hub, including library users, members of Pendeford Community Centre, community leaders and local organisations such as the Local Neighbourhood Partnership, and I'd like to thank them for their support.
"I'd also like to thank library customers for their patience while the work has been carried out, and look forward to welcoming them to the new hub next week."
The hub is one of a number of similar facilities opening around the city this year. Wednesfield Community Hub opened last month and will have its official opening next week, and Long Knowle is due to open for the first time next week. Ashmore Park Community Hub will open in a few weeks' time, while work on Low Hill Community Hub recently got underway and will be completed towards the end of the year.
Councillor Mattu added: "The city council is facing unprecedented financial pressures and we are working hard to protect essential services as best we can.
"These hubs seek to safeguard our libraries, community centres and other facilities by bringing them together under one roof."
- released: Thursday 27 March, 2014