The Portugal striker has joined Villarreal on-loan from Wolves for the rest of the season with an option to buy.
Guedes arrives from Benfica, where he struggled for minutes over the first-half of the season.
At Villarreal, he will be reunited with coach Marcelino, who he played for two seasons at Valencia.
Villarreal have signed Guedes as a replacement for injured attacker Yeremy Pino.
