Daniel Jones has signed a new and improved contract to take him to the summer of 2010.
And although the 21-year-old left sided player is currently battling for a place in the side, he is delighted to have extended his deal and sees his long-term future at Molineux.
"I'm really pleased to be honest," said Daniel, whose current deal was due to end at the end of the season.
"Getting it all sorted means I can concentrate on my football which is what I want to do.
"The lads have made a fantastic start to the season which has left a lot of us trying to fight our way in.
"The results have been brilliant and the players in the team have done really well."
Daniel, who has made 11 senior appearances for Wolves, enjoyed two lengthy and successful spells on loan with Northampton last season and admits that if Mick McCarthy has something similar in mind this time around, he wouldn't have any objections.
"It might be a case of going out on loan if that's what the manager wants and I'll be happy to do that to carry on my development," Daniel adds.
"It did me a great deal of good last season and I just want to play as many games as I can and continue to improve.
"Ideally I still want to play left back, and I'm sure it will be a case of just waiting to see if there are any clubs who are interested.
"But long term I still see my future at Wolves and that is why I'm happy to have extended my time here.
"I still want to play for Wolves and prove myself here and any loan would just be another chance to go and get some football and try to impress."
Mick is pleased to have extended the Academy graduate's Molineux stay.
"DJ has now got another year on his contract which I'm delighted with," added the boss.