Jody Craddock has been offered a 12-month contract extension at Wolves, with the new deal set to take him past a decade of service at Molineux.
The 36-year-old defender faces stiff competition for places in Stale Solbakken's first-team plans, but will be retained as back-up for the centre-half berths.
The terms on offer will also see Craddock take on more duties off the field, as well as allowing him to plan for a testimonial.
"I am delighted to have been offered the chance to extend my stay at Wolves for another year," he told the club's official website.
"I think everybody knows how much I enjoy being at the club and I was working throughout the summer to try and get a new contract.
"Of course I appreciate that it is going to be very difficult to get into the team, given the quality of players already at the club.
"But the way the deal is structured, I can also contribute in other ways, including getting involved in some coaching with the academy and also more community visits.
"I would like to thank the club for offering me the new deal, which will take me to ten years here at Wolves and the opportunity for a testimonial, which is fantastic.
"I'm looking forward to making a contribution in different areas of the club over the next 12 months."
Solbakken added: "Jody is a player with a lot of experience and knowledge and can be a very good example to the other players in the squad.
"It is good to have him as cover but also important that he will be able to do other things within the club as well to pass on all his experience."