Head coach Kenny Jackett was keen to keep hold of the striker but was aware that League One may not be the place for him as suitors from higher divisions were linked with his services throughout the transfer window, while also mindful that Doyle's wages will also stretch Wanderers' third-tier budget.
But a move did not materialise as the deadline passed on Monday night and Doyle admits he is more than happy to remain at Wolves and help repair the damage of back-to-back relegations from the Premier League to the third tier.
"I'm enjoying the challenge of hopefully getting this club back to a position where everyone can be proud of it again and the fans can be proud of the players and the coaches," Doyle told the club's official website.
"It won't be easy and it's a long, long season but hopefully I can be part of it this year.
"It would have been easy to leave this summer - to go and put it all behind me and try and forget about it all. But I'm looking forward to trying to get us back in the Championship and I think everyone here is like that now."
The Republic of Ireland international added: "If I look back in years to come when my career is over, would I prefer the achievement of sticking at it and trying to help this club get back up the divisions or jumping ship and perhaps ending up in another dogfight or whatever it was going to be?
"I think in the long run I am hoping I will get more satisfaction from trying to put right some of the wrongs of the last few years."
Doyle, who has appeared in five of Wolves' first seven games this season, admits it was an "open summer" for both him and the club when it came to his future.
"They were very honest with me and said they'd like to keep me but also had to be mindful of the financial aspect - that was the way it was all summer," the 29-year-old said.
"Unless it was something that was the right move for me I was very happy where I am. That's the 100 per cent truth - the door was kept open for me to stay by the club."