The Nigerian striker has signed a four-year contract and will cost Wolfsburg around £9million.
“He is just the type of player that we were looking for to complement Grafite and Edin Dzeko,” said Wolfsburg boss Armin Veh.
“He is not only quick, but he has also proven how dangerous he is in front of goal.”
Martins added: “I am delighted the transfer has gone through. The Bundesliga is one of the strongest leagues in the world and I am happy to be able to play for the defending Bundesliga champions.
“This is going to be a great challenge.”
