The 18-year-old has excelled under Mikel Arteta and put to bed the rumours of a potential exit by signing what Standard Sport understands to be a four-year contract extension.
The versatile Englishman gave the Gunners the lead with a stunning volley at Molineux, with Arteta's side now winning four on the bounce to keep their Champions League hopes well and truly alive.
"It has been a week I will remember for my whole life," Saka told Sky Sports. "It's been a great week, not just for me but for the Arsenal fans.
A goal out of nothing for Arsenal!
Bukayo Saka re-adjusts himself brilliantly before firing past Rui Patricio for his first ever Premier League goal! 👏
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"You can see the manager is building and that I can tie down my future here."
The win pushed Arsenal above Sheffield United and into seventh place - just six points of Manchester United in fourth.
Asked how big the result was, Saka said: "It is very big. We know how good Wolves are; we knew how tough it was going to be.
"We fought for every ball, every duel, and we're so delighted to get the win - our fourth in a row - and it is good to build some momentum."
The youngster - who has played in both defence and midfield this season - insists it's a dream to be playing in whatever role he's given.
"I am 18 and it has been a dream to play for this club," he added. "I have to take each game by game. Wherever the boss wants to put me, I want to play. It is a dream to be here."