Wolves, where Jota spent three seasons, said they were “heartbroken” and their former player would be “truly missed, and always remembered”.
“Diogo was adored by our fans, loved by his team-mates and cherished by everyone who worked with him during his time at Wolves,” they said.
“The memories he created will never be forgotten.”
Manchester United said their “deepest condolences are with the loved ones of Diogo Jota and his brother, Andre, and everyone connected with Liverpool” while Everton said they were “deeply saddened by the tragic passing”.
Jota began his professional career with Pacos de Ferreira, joined Atletico Madrid in 2016, and spent the 2016-17 season on loan with Porto, where his brother was also a youth player.
Porto said in a statement they were “in mourning”.
Club president Andre Villas-Boas added: “This is a moment of profound dismay for the entire Porto fanbase and for all Portuguese people.
“Two young men tragically lost their lives, two men who represented FC Porto in an exemplary manner and who will be remembered not only for their football but also for their personal and human qualities.”