Blackburn have finalised the signing of Ipswich winger Paul Taylor on loan for the remainder of the season.
Graham Dorrans has extended his loan stay at Norwich from West Brom for the remainder of the season.
The 22-year-old New Zealand international looked set for a move away from the King Power Stadium after dropping down the pecking order with the summer arrival of Argentinian forward Leonardo Ulloa.
But after Leicester's 2-2 result in their Premier League opener at home to Everton on Saturday, Wood said: “I sat down with the gaffer on Monday and told him that I wanted to stay and fight for my place.
“I’ve got to get my head down and work hard.”
Wood earned Leicester a point on their return to the Premier League with a goal four minutes from time, the second time in the match the Foxes had come back from a goal down.
Wood was on as replacement for Ulloa who had earlier scored Leicester's first equaliser.
He added: “It's nice to be off the mark and it was a great result for us on the opening day. It was a good point in the end.
“There are a lot of positives to take and things to learn. We’ll build on this. We showed a great performance.”