A youth product of Cruzeiro, Wallace caused a great stir when football agent Jorge Mendes's
Gestifute paid €9.5 million to sign him from Cruzeiro in early July 2014. However, as his registration rights as a footballer must owned by a football club, Wallace was "signed" by
S.C. Braga which owned 10% economic rights (for the future transfer fee), with a release clause at €40 million. On 21 August 2014, without ever playing for Braga, he was loaned to AS Monaco, in a loan deal set by Jorge Mendes. On 29 July 2016,
Serie A club
Lazio announced that they had definitively purchased Wallace from Braga for €8 million. He scored his first goal for the club on 20 November 2016 in a 3–1 home win over
Genoa. On 30 September 2020, Wallace joined Turkish
Süper Lig club
Yeni Malatyaspor. On 26 January 2022, his contract with Yeni Malatyaspor was terminated by mutual consent. On 15 February 2022, Wallace joined
Chinese Super League club
Wuhan Three Towns. Throughout the season he would be part of the squad that won the
2022 Chinese Super League title. On 20 September 2023, Wallace joined
UAE Pro League club
Ittihad Kalba. ==International career==