Wolves owner Steve Morgan is delighted Jody Craddock is playing on next season.
Morgan believes keeping veteran central defender Craddock, who has agreed a new one-year deal, is crucial.
He said: "We're delighted to have him for another year. Jody is a great pro.
"He's got an older head compared to the rest of the players and, having someone like him around the training ground and dressing room, is someone the younger players can turn to.
"They can see Jody has been there, done that, got the T-shirt and I think you just need some older heads around the place.
"On the whole we've got a very young squad so the influence Jody gives, off the pitch as well as on it, is fantastic."