Alcaraz will head to the DW Stadium after the World Cup in South Africa this summer.
Wigan manager Roberto Martinez told the club’s official website: “We are thrilled to have been able to capture a player of the calibre of Antolin.
“I think everyone will realise what a quality player he is when we see him at the World Cup for Paraguay.
“He is a highly versatile defender with great awareness and distribution and has great pride in keeping clean sheets.
“He is entering the best period of his career and is looking forward to adding to his international and European experience, as well as playing for his country in the World Cup.”