The Molineux youngsters eased to a 2-0 play-off final success over Stoke thanks to Cundle's smartly-taken first-half double.
The victory means James Collins' side, who finished second in the table this term, will play in top flight under-23 football next season.
Cundle, who has made four Premier League appearances for the first team, was the goal hero but Wolves starlets including Hugo Bueno and Joe Hodge put on fine displays in front of a watching Jeff Shi.
Wing-back Dexter Lembikisa had already volleyed wide before the hosts earned a 17th-minute lead.
The opener came from a well-worked move involving Chem Campbell, before Taylor Perry crossed low for Cundle to sweep home.
Stoke did attempt to hit back, mostly through William Goodwin, whose header and rising strike from distance were easily claimed by Matija Sarkic.
Wolves left wing-back Bueno caught the eye. He dragged a low strike wide before defender Justin Hubner had a header tipped over.
A deserved second arrived six minutes before the interval.
Hodge released Bueno down the left with a fine lofted pass. The Spaniard turned Dimargio Wright-Phillips inside out before another fine cross reached Cundle, who lashed in a fine half-volleyed finish that had too much venom for Tommy Simkin.
Stoke were unable to trouble Wolves in a quiet second half and Cundle might have managed a hat-trick late on but was denied by a fine block after Simkin saved well from Campbell and the keeper somehow denied Perry.
Sarkic had to tip a wayward cross on to the crossbar late on, before the home youngsters celebrated.
Wolves under-23s (3-5-2): Sarkic; Tipton, Marques (c), Hubner; Lembikisa (Birtwistle, 90+2), Perry, Hodge, Cundle, Bueno; Campbell (Hesketh, 86), Harkin (Griffiths, 72).
Subs not used: Kandola, Shabani.
Stoke under-23s: Simkin, Sparrow (c), Jones, Malone, Okagbue, Forrester, Wright-Phillips, Griffiths, Tezgel (Norton, 80), Jarrett (Sy, 80), Goodwin (James-Taylor, 62).
Subs not used: Hemfrey, Curl.
Referee: Tom Kirk