Wolves boss Vitor Pereira faced a battle to keep hold of their star striker over the summer as they rejected two late bids from Newcastle United who were desperate to replace the departing Alexander Isak.
In total, Strand Larsen has played 41 times in all competitions since joining Wolves, scoring 16 times. The 25-year-old signed for a bargain price of just £23M after his successful loan spell, helping Wolves finish 16th in the Premier League.
Pereira himself has penned a new three-year deal despite their dire start to the season and spoke on the deal for the Norwegian star who will remain at the side for the foreseeable future.
"Very important, very important if we want to increase our level, if we want to give another step up. To be another level we need this kind of player. Not only tactical and technical but his spirit and personality. It's very important for us and it's very good news.
"He was training with the team yesterday and I hope tomorrow he can help up us, obviously not for 90 minutes. This is the information I have been given by the medical team."
Strand Larsen is still waiting for his first Premier League goal this season and could grab his first as his side faces newly promoted Leeds United this weekend who have conceded 6 goals in 4 games so far.