The New Zealand international striker, a target for Wolves of late, scored the late equaliser that earned the Foxes a point in their first Premier League game of the season
The New Zealand international striker was a target for Championship club Wolves but the two clubs were unable to agree a deal and Pearson is adamant that his charge wants to stay.
Wood picked the perfect time to showcase his commitment to the Leicester cause as he came off the bench to score a late equaliser in a 2-2 draw with Everton on Saturday on the opening day of the Premier League season.
"He is staying," Pearson told reporters of the 22-year-old.
"In terms of that story [the potential transfer to Wolves], we've not fanned the fire. It's been a story that's gathered speed but he's staying here.
"I've spoken to him on a couple of occasions this week and he's very happy to fight for his place. As far as I'm concerned, I draw a line under it there.
"I'm pleased to have him here and I am very pleased he was able to play his part in securing our first point in the Premier League."