The Portuguese arriving from Braga in the summer of 2019, has assigned new terms with the Molineux club.
Pedro Neto’s contract has been extended with the Wolves until 2025.
He joined Wolves from Braga ensuing the end of a two-year loan stint at Lazio in 2019. Neto has been rewarded in the Premier League.
During his 29 appearances for Nuno Espirito Santo, he has scored three times. And his satisfaction is fulfilled after seeing his hard work resulted by an offer of fresh terms.
"It's been amazing being here. I love being here; the family that we are building, all the club, it's been fantastic for me, so I'm very happy," he told the club's official website.
"This new deal shows I'm working very hard and I was expecting it because I worked for it. I always work to improve my game, so it comes with that. I work hard every day, so I'm very happy about it, but I will continue to work now.
"We say that nothing is given to you, so you have to work hard and what I have done in the last year-and-a-half is work hard every day, continue to improve and learn from my team-mates."
Neto is going to build a strong first campaign in England.
"In my first interview, I said that I want to be the best, so I have to work every day because I have to compete with my team-mates in a healthy way. I have to compete to play, to improve, and day by day I try to learn something," he added.
"It's been very good to be here and learn a lot with the coach, with my team-mates, with everyone, and I will keep improving.
"I think it's the good thing about this team, because we all think the same way, we're like a pack, like we say, so we work all to the same goals, all of us try to improve every day, because the way that we play is to improve. It's the mentality of the team and the mentality of the players that are taking this club to a higher level."