Stephen Fletcher set Wolves on their way in the fifth minute with his sixth goal of the season, and although Rovers remained in the hunt up until the hour mark, they fell apart thereafter.
In front of a sparse 10,031 Molineux crowd, those in attendance were at least warmed on a chilly night with further goals from Geoffrey Mujangi Bia, Kevin Doyle, Matt Jarvis and David Jones.
After Billy Sharp had missed a great chance to put Doncaster in front, Wolves took the lead after six minutes.
Doyle initially combined with Stephen Hunt down the left, with the latter then whipping in a piercing delivery for Fletcher to glance home from eight yards beyond Neil Sullivan.
The Barclays Premier League side should have headed into the break with a more comfortable advantage against their npower Championship opponents.
Mujangi Bia had a right-foot curler from 25 yards that was inches beyond Sullivan’s left-hand post before missing a sitter 11 minutes from the interval.
Breaking from deep via a move sparked by Doyle, Mujangi Bia played an incisive one-two with Fletcher, but with the goal at his mercy from 12 yards he could only blaze his chance over the bar.
Recognising it was a golden opportunity for Wolves to carve out a 2-0 lead, Mujangi Bia was given a playful kick up the backside from Hunt as retribution.
Mercifully for Wolves it did not prove costly as Mujangi Bia gained a reward for his industry by finishing off a 61st-minute move with a powerful 12-yard drive — his first goal for the club.
Doyle had been the supplier on that occasion with a low cross from the left, and five minutes later he again shaped as if to play the role of provider after turning James Chambers inside out.
But instead, the Republic of Ireland striker squeezed an acutely-angled shot in off the right post for what was his sixth goal of the season.
The comfortable scoreline allowed McCarthy to make the first of his substitutions, with Hunt replaced by Jarvis in the 69th minute, and five minutes later the midfielder added further emphasis to the scoreline.
Centre-back Richard Stearman played Jarvis into space and he finished expertly with a sidefoot shot beyond Sullivan.
Wolves were not finished though, and in the third minute of injury time Jones swept home a Jarvis corner from 16 yards to give the midlands club their biggest win since a 6-0 victory over Gillingham in March 2003.
WOLVES: Hahnemann, Zubar, Stearman, Craddock, Mouyokolo, Mujangi Bia, Henry, David Jones, Hunt (Jarvis 69), Doyle (Vokes 78), Fletcher (Ward 77).
DONCASTER: Sullivan, O’Connor, Hird, Lockwood, Chambers (Friend 76), Oster, Wilson, Martin Woods, Coppinger (Souza 75), Sharp (Brooker 82), Hayter.
Referee: Kevin Friend (Leicestershire).