Wood, 35, stopped Warrington in his tracks with a clean left hook, before adding two right hooks and one more left to drop the 32-year-old badly.
Although Warrington somehow hauled himself off the canvas, he was still on shaky legs, and the referee waved off the contest.
With the result, Wood made a successful first defence of his second reign as WBA champion, having lost then regained the belt in back-to-back duels with Mauricio Lara earlier this year.
His focus now turns to a dream fight at the City Ground, home to his beloved Nottingham Forest football club.
While Warrington, having now suffered back-to-back defeats, seemed to hint at a possible retirement, he also welcomed a rematch with Wood at the City Ground.
Wood has form for this kind of knockout, having beaten Michael Conlan with a devastating finish in Round 12 of their title fight last year, when the Irishman was ahead on the scorecards.
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