The Croatia international has been the subject of reports suggesting he was to join Premier League outfit Stoke City, fuelling rumours by visiting England with his wife last week.
With his contract due to expire at the end of the campaign, Olic claims he now sees himself as likely to remain at Wolfsburg.
Olic has 12 goals in 28 Bundesliga appearances this term, putting Dieter Hecking's men in with a strong chance of European football, and he hinted that he will probably stay with the club he joined from Bayern Munich in 2012.
"My thought is to stay on at Wolfsburg," he told Kicker.
"I am expecting to remain at the Volkswagen-Arena and be a part of this squad in the new season."
The experienced 34-year-old has scored in four of Wolfsburg's last five fixtures, helping them to fifth in the table.
