The 26-year-old moved to The Hawthorns in an £800,000 switch from NEC Nijmegen last summer, and proved to be a shining light for Albion despite a season of struggle for Tony Mowbray's men.
Sunday's 2-0 home defeat to Liverpool confirmed a quick return to the Championship for the Black Country outfit, who face Blackburn at Ewood Park on the last day of the current campaign this weekend.
That has led to top-flight vultures starting to circle The Hawthorns looking to pick off the club's prize assets in this summer's transfer window.
Olsson has won a string of admirers including Aston Villa, Blackburn, Bolton and Everton with this all-action defensive displays.
But having penned a two-year contract last summer, the Swede insists he wants to help Albion make a quick return to England's top tier.
Olsson: "I don't want to think about the future now but I have a contract here and as it is now I want to fulfil it.
"That's the way I feel. I have a contract. Of course every player wants to play as high as possible but I like it here and it's a great club.
"But this is the time for being disappointed and I don't want to think about the future right now.
"We are all disappointed now so let's be disappointed for a while and try to finish off the season against Blackburn and then start thinking about the future.
"I think we just want to finish off well against Blackburn.
"We will go for a win there and see where it takes us. The Blackburn game is far away now in my head."
Olsson proved to be a threat from set-pieces and has netted two league goals, but admits there is still room for improvement in his game.
"There are some things I do well and some things I still need to adapt to the Premier League," he added.
"I am trying my best to be professional and work on that.
"But there are little things we can improve. A lot of that is to do with experience and a lot of the players on the field have Premier League experience now.
"It's a shame we couldn't stay up to go into the Premier League next season with a year's experience but that's the way it is.
"There are some things I still need to improve to be a good Premier League player.
"There is major disappointment. It's the first time I have been with a team that's been relegated and it's not a good feeling," he told the Birmingham Mail.
Blackburn v West Brom 1st Goalscorer: Olsson, J. 33/1