Sunday’s victory saw England right-back Lucy Bronze win her third straight European crown with the French club, who have claimed a record seven titles.
France’s Eugenie le Sommer opened the scoring and Japan’s Saki Kumagai lashed in to put Lyon 2-0 up at half-time.
Alexandra Popp headed in for Wolfsburg after the break but Sara Bjork Gunnarsdottir’s late third sealed it.
Bronze, who had previously said this would be her last game for Lyon, confirmed after full-time she was likely to move to the Women’s Super League, but would not be drawn on whether her former club Manchester City would be her next destination after her contract ends on Monday.
Her England team-mates Jodie Taylor and Alex Greenwood both came on as substitutes for the champions, but their fourth Lionesses star – forward Nikita Parris – was absent through suspension.
The sides were meeting in the final for the fourth time since 2013 but the French team claimed their third win from those four meetings, as they beat the Bundesliga champions for a fifth season in a row in the Champions League.
The result extended Lyon’s supreme command over the continent’s biggest women’s football competition as they won the title for the seventh time in nine final appearance since 2010.
Played in front of no fans in the home ground of Spanish men’s side Real Sociedad, the final concluded a nine-day mini tournament of one-legged knockout games in northern Spain, after March’s quarter-finals had to be postponed because of the coronavirus pandemic.
England striker Taylor went close to adding a fourth for the dominant French side in second-half stoppage time but was denied by a good low save from Wolfsburg keeper Friederike Abt
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