Wolverhampton Wanderers have announced that Hugo Bueno has penned a new contract at Molineux.

While Bueno has been a regular part of the first-team squad throughout this season, the 20-year-old had not made a senior appearance until being introduced as a late substitute against Nottingham Forest on October 15.

Since then, the left-sided player has found himself making three successive starts in the Premier League, providing an assist during the 2-1 defeat to Crystal Palace on his debut.

Despite Wolves collecting just one point from the three games that he has started, Bueno has made a positive impression on the club's supporters.

On Wednesday afternoon, the West Midlands outfit revealed that the Spaniard had won the club's Player of the Month accolade with 55% of the vote.

Prior to revealing that achievement on social media, Wolves announced that Bueno had signed a new four-year contract, with the option of a further 12 months.

Wolves had been required to act swiftly due to the academy graduate having less than a year remaining on his previous deal and admirers likely to emerge from both English football and back in his homeland.

Speaking on the development, technical director Scott Sellars told the club's official website: "We always try to reward young players who are doing particularly well. Hugo, since he came at 16, has been excellent in how he's progressed. Now he's done the final bit we want from young players, which is to break into the first-team, so we're delighted to get a talented boy tied down.

"It was tough for him when he first came with physicality, but I don't think there's anybody in the academy who has worked as hard as Hugo, in terms of the extra working and making himself stronger.

"He was doing extra work on his crossing when he moved to wing-back, having come as an attacking midfielder. He's got his rewards in terms of playing in the Premier League and getting a new contract. He's a great example of what hard work can get you."

Bueno is the second academy graduate to have recently penned a new long-term deal with Wolves after winger Chem Campbell did so last month.

Caretaker boss Steve Davis has also handed a chance to fellow youngster Joe Hodge over the past month, but Wolves may be about to appoint a permanent replacement for Bruno Lage.

On Tuesday evening, John Percy of The Telegraph reported that Julen Lopetegui was ready to take over, just weeks after initially rejecting Wolves' approach for his services.

Davis is expected to remain in charge for Saturday's Premier League fixture with Brighton & Hove Albion. body check tags ::