The 21-year-old starred as Wolves won the Championship title, scoring six goals and winning the player of the season award.
Manchester United and Liverpool are said to be among the clubs interested in Neves.
But he told O Jogo: "Right now it’s not good for me to risk a way out. I feel very good at Wolverhampton, I have no reason to leave because I’m going to play in the best league in the world.
"The fans already know me, the club too and everyone knows what I can do for the club.
"I spent a great year there and I love playing at Wolverhampton. Therefore, I have no interest in going out, because it’s the best for me and for my future.
"I came to evolve as a player and now that I’m maybe in the best phase of my career it would be a very big risk changing club. This is the right path.”
Neves also stated he didn't expect Wolves would win the title in his first year at the club.
"When I signed for Wolverhampton, I had good expectations because I liked the club project, but I never thought we would win the Championship in the first year," he added.
"Of course our goal from the start was promotion, but we played an excellent season and we were champions with two fixtures left to the end of the league. This is a championship that is usually very competitive.”
Meanwhile Cardiff boss Neil Warnock, who clashed with Nuno Espirito Santo earlier in the season, has praised the Wolves boss.
“I’m sure you saw me on the pitch saying a few words to him a few weeks ago,” he said.
“I did ring him up to congratulate him. Nuno did a fantastic job at Wolves and the club is coming back and it is great.”
*Neves quotes translated by Sport Witness