The 21-year-old has signed a new and improved five-year contract which sees him extend his stay at Molineux until 2023.
The Portuguese international, who narrowly missed out on a place in his country’s FIFA 2018 World Cup squad, has made a stunning impact in the West Midlands since signing from Porto last summer.
Neves made 42 Championship appearances, netting six times, with every single goal coming from outside of the penalty box.
His wonder-goal at home to Derby County became a viral hit on social media and also bagged him Wolves’ goal of the season award after an almost unanimous vote.
The playmaker ended the campaign in the EFL team of the season alongside Conor Coady and John Ruddy, and Wolves sporting director Kevin Thelwell is thrilled that Neves has commited his future to the club.
“Ruben has been an absolutely outstanding addition to the squad since his arrival last summer and is thoroughly deserving of his new deal,” Thelwell said.
“It is no secret that there has been interest from other clubs, but Ruben is very mature for his age, incredibly level-headed, and loves being a part of the Wolves family.
“He and his young family have settled very well in the area and he was very keen to continue his journey with Wolves into the top flight and beyond.
“Ruben has taken everything in his stride since joining us, and I am positive he will continue his form into next season and have a huge impact on the Premier League.”