Milijas, signed last summer from Red Star Belgrade for £2.6million, has three years left of his current contract.
There had been speculation that the 27-year-old may want to leave Molineux to play more regular football.
But the Serbian player is happy to fight for his spot as he gears up for the forthcoming World Cup finals.
Milijas said: "I know there are some clubs abroad who want me but I'm really happy at Wolves and I'm excited about playing here next season. I really expect to be here.
"I have three more years on my contract and I can't think why I'd want to leave. It would be stupid of me to think of going anywhere else now.
"If people at the club or the fans have a problem with me, then I'll have to find another club who want me. But I'm really happy here and no one such as the gaffer (Mick McCarthy) has said 'you need to go'.
"I feel the fans are happy with me being here. Every time I see a fan they say 'see you next season' and that makes me feel good."
Milijas, who proved to be an excellent provider from dead-ball situations when given a chance by McCarthy, expects Wolves to finish higher than this season's position of 15th during the 2010-11 campaign.
He said: "I think we'll have better results and we'll maybe be higher in the table.
"As it will be our second season in the Premier League, it might be harder, especially with two big clubs coming up in Newcastle and West Brom.
"But we can do better. All of our players who hadn't played in the Premier League - like me - now have had a season at that level.
"We've all learned so much from this season so next time, every game will be easier because we know how we need to play to win games."
Meanwhile, Wolves legend Steve Bull is confident the club can keep hold of striker Kevin Doyle now that Premier League survival has been ensured for another season.
Doyle became Wolves record signing when he made the £6.5million move from Reading last summer.
The Republic Of Ireland international has been linked with moves away from Molineux after playing a major role in Mick McCarthy's side staying up as the lone forward in a 4-5-1 formation.
But Bull, the club's record scorer with 306 goals, believes any doubts about Doyle's future have now been removed.
Bull said: "Kevin Doyle is superb. He is so under-rated it is unbelievable. I think Wolves will now be able to keep hold of him as they are staying in the Premier League.
"There would have been doubts if we had gone down because a lot of teams were looking at him and you can understand why given the way he has performed.
"But I think he will be there - and part of the Wolves team for years to come."