Reports are suggesting that the former CSKA Moscow, Hamburg and Bayern Munich forward could be on the move to the Britannia Stadium at the end of the season but Hecking is eager for him to stay put at the Volkswagen Arena.
"Ivica Olic is a very important player for the team," Hecking told Sky Deutschland.
"Me and [Wolfsburg general manager] Klaus Allofs have told him in a private conversation that I would be delighted if he signs a new deal with our club.
"Of course, I would be sympathetic if Ivi would look to find a new challenge. The decision will be up to him."
This season, Olic has scored 10 Bundesliga goals in 26 appearances for Wolfsburg who currently sit fifth on Germany’s top flight table.
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball