Monaghan, 28, was a close season signing from Canberra, initially on a one-year deal, but has wasted no time in extending his stay in the north west for a further three-years, keeping him at the club until the end of 2014.
Head coach Tony Smith said: “Joel has settled in particularly well and quickly which is quite unusual for an Australian or overseas player to fit in so quickly and look right at home. But Joel has managed to do that both on and off the field fitting in well with the players.”
Wood, who is approaching 250 first team appearances for the Wolves, celebrated his 10-year testimonial last season and has signed a two-year extension until November 2013.
Smith added: “I think all of them have worked hard and they are looking forward to continuing their association with us and also their commitment to us as a club. I am delighted that they are going to be involved, all for the various attributes they bring to us but I’m also a big one for continuity and consistency, and keeping things pretty stable.
“In a sporting club if you look at the most successful sport clubs they have a lot of stability at the top and amongst the players, and I am happy to work with the same sort of squad, with maybe a tweak here and there each year.”