Victory for Jackett's side kept up the pressure on League One leaders Brentford and second-placed Leyton Orient and was secured with goals from Kevin McDonald, Michael Jacobs and substitute James Henry.
Both goalkeepers performed well in a tight first half but Wolves struck after 50 minutes when McDonald drilled a low 20-yard shot past Mark Oxley.
Wanderers began to show their class and Nouha Dicko was denied by a superb Oxley save.
The visitors made sure of victory after 89 minutes with Jacobs sweeping in Sam Ricketts' pass at the end of a flowing move.
And Henry pounced in stoppage time, tapping in the loose ball after Dicko's shot was deflected into his path.
Jackett said: "It was a very good win in an old-fashioned game of football.
"Both teams slugged it out, attacked for a lot of the game and got the ball into the box.
"I'm delighted to keep a clean sheet because Oldham are a good side, a big side, and we had to defend a lot of crosses.
"You often need spirit when you come to Boundary Park and it was a gutsy win, which was important for us to make sure we stay up there.
"You have to deal with different types of games and we competed very well with the way Oldham played.
"We scored three quality goals and the difference was that we worked their keeper more than they worked ours."
Wolves have turned down Celtic's bid for striker Leigh Griffiths, who was an unused substitute against Oldham.
But Jackett said: "There has been more dialogue today (Tuesday). It was above me and I was concentrating on the game, but I'm sure the club has a valuation for Leigh."
Oldham's defeat brought them crashing back to earth after Saturday's amazing 5-4 win over Peterborough.
But manager Lee Johnson was not disheartened by their performance against a Wolves side chasing automatic promotion.
He said: "If we keep showing that level of commitment, tempo and quality - and if we become more clinical - we'll be fine.
"When you have a big budget like Wolves, it pays for experience and judgement. A lot of their players have been in the Premier League.
"I'm not too disappointed because we showed quite a lot of what we are all about. It's just disappointing we couldn't get it back at 1-0 down.
"In the second half we had Wolves camped in, but we couldn't take the last step with a shot or a final ball.
"We've played Wolves four times now this season and we knew it was going to be tough because they are so strong.
"We couldn't get that half a yard for a bit of power and pace, but it was never a 3-0 game."
- Sports & Recreation
- Michael Jacobs
- Nouha Dicko