The 25-year-old Irishman has been an ever present under Nuno Espirito in the Championship this season and been rewarded with a four-year deal.
Should Doherty see out his contract, it would take him past a decade at the club – he was signed from Bohemians in the summer of 2010 for a reported £75,000 fee.
Wing-back Doherty, who can play on either flank, said: "People might think a four-year deal brings a bit of comfort but no chance!
"This is a really big season for us.
"We are joint top at the moment and it is an exciting time for the team in terms of potential and what we are capable of.
"We are looking to try and get promoted, and I want to play as many games as possible to help get to the Premier League."
Doherty – who had loan spells at Bury and Hibernian early in his career – made his 150th appearance for the club in the 2-1 win over Barnsley on Saturday.
"I am proud to have made as many appearances as I have for a club like Wolves," he said. "There has always been competition for places, especially this season, but to have played as many games as I have is great.
"Long may it continue!
"Hopefully I have survived here this long because I am decent at football!
"Maybe it is because I can play in a number of positions.
"I can’t put my finger on why I have managed to stay here and survive."
And though it's been a long road to become the established first-team player he has today, Doherty hopes the best may yet be ahead and admits Molineux is an exciting place to be at the moment.
"I have said before the staff here are top class, one of the best overall that I have worked with," he added. "Their attention to detail – we do everything for a reason – and I think that has shown with us being at the top of the table, even though we know it is only nine games in.
"We need to keep doing what we are doing.
"We haven’t played great in every game but have still managed to win.
"There is a different feel about the place this season I think.
"You can never expect to be up there at the top of the table but at the same time I don’t think we are surprised to be there.
"The players that have come in have settled in really quickly and we have got strength in depth.
"There is a lot of character in the squad as well as we have shown already.
"There are no big heads with the group that have come in, they are all down to earth which is why they have settled in so well."
And on his ambitions that remain with the Republic of Ireland and Wolves?
"I have been in some provisional squads (with Ireland) and would like to try and break in at some stage," he said. "On a Wolves front, Premier League football is the big aim.
"If we all continue to work hard and play to our potential, I am pretty sure we will be in and around it at the top of the table."