The midfielder completed his permanent move from Tottenham last week after an inspirational loan spell in the second half of last season.
O'Hara helped keep Wolves in the Premier League and scored in the final day defeat to Blackburn and the strike proved crucial in securing safety.
Wolves are chasing the likes of Reading's Matt Mills and Morgan is hopeful that the perceived quality of O'Hara and other established first-team players could prove valuable.
Morgan told the Birmingham Mail: "Other players will be attracted to Wolves by the likes of Jamie. But there's also Wayne Hennessey, Matt Jarvis, Kevin Doyle, Stephen Hunt... I could go on and on.
"There's a lot of very high quality players here and I am quite excited about next season because I think we are getting ourselves a really good squad.
"Compared to this time last year they all have an extra year's experience.
"And last season was definitely an experience - a fraught one at times!
"But I think we can look back at some of the silly errors that were made in some matches.
"You think that if we could stamp even half of them out it would make a massive difference to where we finish in the league."
Source: Team Talk
Source: Team Talk