The Mexico international also tried his luck with an outrageous rabona shot before half-time which flew over. However, the English Premier League side did not have it all their own way as they reached their first European quarterfinal since 1972.
Olympiakos enjoyed 62% possession and had a goal by Mady Camara chalked off in the 28th minute after a long VAR review for offside against Youssef El Arabi in the build up.
Jimenez has 27 goals across in all competitions this season, with Thursday's score being his 10th in Europa League play (including qualifying rounds).
The result sets up a quarterfinal match for Wolves against Sevilla FC, with the last eight set to be played in four German cities as part of the mini-tournament, with the final on Aug. 21 in Cologne.
"We know Sevilla will be tough but if we play as a team, as a family, I think we can achieve very good things," added Jimenez.