Stearman has returned to the club after impressing at Ispwich Town during a loan spell, but despite interest from Portman Road regarding a permanent deal, Jackett is hopeful that the 25-year-old will remain at Molineux.
The former Millwall boss told the Express & Star: "He's another I feel who has the pedigree to do well. He's shown a good attitude and an appetite, so we'll see, but we won't be letting people go lightly.
"There has been speculation because he had a successful loan spell at Ipswich but we're not going to necessarily let him go for the sake of it – it has to be right for us. Right now, he's in my plans and I'm looking forward to seeing him play.
"But if something develops later on, I'll understand."
The former Leicester City defender has made 126 league appearances for Wolves since his arrival at the club in 2008.