Doherty has moved into the final 12 months of a three-year deal, and the Republic of Ireland Under-21 international has admitted that he would love to remain at the League One club.
The 21-year-old told the Express & Star: "I'm pretty confident I will play a big part at Wolves next season. We are actually in talks at the moment about a new contract.
"I have got one year left and I love Wolves. They gave me my chance, but we're having contract talks now and we will see where that goes.
"But I can't just rot away. If I stay at Wolves, obviously, I have to play."
The former Bohemians player featured in the club's final 13 games in the Championship last season.