Graham has burst onto the scene at Molineux, and has rapidly established his place in the Midland outfit’s starting line up.
The 20-year-old winger has only made eight appearances for Wolves, but he has been nothing short of a revelation and Jackett wants to secure his future quickly.
“Jordan has 18 months left but, as we did with Dominic Iorfa, if young players come in and do well then we don’t wait," the Wolves boss said.
“Young players that are successful will be rewarded and Jordan comes into that category.”
Graham’s good form at Wolves has already attracted the attentions of Premier League sides, with Bournemouth linked in the Daily Mail.
The winger has caught the eye, with his natural ability in possession making him a great outlet for Wolves.
Graham has scooped Wolves’ Man of the Match award in his last six appearances.
The youngster also scored his first professional goal in Wolves’ 2-0 win over Charlton Athletic on Monday, to increase his burgeoning reputation even further.
Wolves’ next match comes against Brighton & Hove Albion on New Year’s Day.