Stephen Hunt scored the goal which guaranteed Wolves' Barclays Premier League safety and then admitted: "That was the most stressful day of my career."
Hunt struck the second goal with three minutes left in a 3-2 home defeat against Blackburn which edged them in front of Birmingham in terms of goals scored.
In the end Wolves had a point to spare as Blues were forced to gamble after Hunt's goal and were beaten 2-1 at Tottenham.
Hunt, relegated previously with Reading and Hull, said: "I'll enjoy the moment. Thank God we had the lap of the gods on our side.
"The couple of goals we got were vital because it changed the way other teams had to play.
"I heard the fans singing 'we need one more goal' and we were mentally strong.
"Birmingham had shut up shop, and then they had to go for it and, in the end, got beaten and we got over the line."
Wolves looked to be heading out of the top flight after trailing 3-0 at the interval to goals from Jason Roberts, Brett Emerton and Junior Hoilett.
Hunt said: "At half-time I couldn't look the manager in the eye. I don't think anyone could. We didn't know what to say.
"We were down in the dumps. But Mick (McCarthy) got us going again with his team talk."
McCarthy said: "We were in it, then we were out of it. We were up and then we were down.
"I was getting messages every couple of minutes on bits of paper. Some had swear words on, others said happy days.
"I said all along that it would come down to May 22 and it might even be goal difference or goals scored.
"I do not even know the exact outcome now. All I knew at the end of the game was that we had stayed up."
"I am thrilled and I am very proud of the players. But I am shattered physically and emotionally."
Rovers' victory also made sure of their top-flight status and they earned applause from manager Steve Keane for their end-of-season form.
He said: "We have produced seven positive results from our last nine games.
"The team have come together as a group really well. We will be a better team and a better club for it.
"The first half was the best 45 minutes of our season. It is just a shame that we left it until the last game.
"We had someone on the subs' bench with a lap top keeping us in touch with the other scores. Every five minutes we were getting updates.
"I was fully in touch with things and a few minutes from the end, Mick McCarthy gave me a look to say 'that is it, we are both safe."'