Since arriving at the Championship outfit in May, Nuno has won 13 of his 19 games in charge, with Wolves sitting at the top of the standings as well as reaching the fourth round of the EFL Cup, where the club lost to Manchester City on penalties.
That record had led to interest from the Toffees, but the Portuguese has indicated that he has no interest in moving to Goodison Park.
The 43-year-old told BBC WM: "When you sign a contract, you must respect that. It's a project that requires commitment.
"The only focus in my mind is the game on Friday. Nothing else can distract us. We are on the way to something important. We are doing things well."
Wolves host Fulham on Friday with the chance to move four points clear at the top of the table.