The 19-year-old is widley regarded as one of the best players outside the Premiership and has been linked with a move to Totenham.

He is an England Under-20 international and has made 90 appearances since breaking into the Wolves first team in 2000.

Wolves boss Dave Jones added: "I'm very pleased because Joleon can play a big part in the future of this football club.

"He is a sensible lad with a lot of talent and he is prepared to listen and work hard in training.

"This is an excellent deal for both the player and club."

Wolves lost in the Division One play-off semi-finals last season and Lescott said he aimed to help the Midland outift into the Premiership.

"Now, hopefully, we can get it right. That would be the icing on the cake for me."

Chief executive Jez Moxey said: "I'm delighted we have signed Joleon to this new five-year contract.

"His progress in the first team has been there for all to see and he deserves our investment of a new contract, but he must now build on his success and continue to improve.

"We think he has a very bright future and I hope this, once again, signifies our commitment to our best young players."