Wright, the former England and Arsenal star, has been a presenter with Absolute since August 2010.
His current show 'Rock 'n' Roll Football,' airs between 5pm and 6.30pm on Saturday, and offers a blend of post-match chat and entertainment.
The new deal will involve Wright hosting a number of additional shows, beginning on 14 January next year.
These include a 'Premier League Preview' show, which will air on Friday evenings at 7pm and will also be available on-demand via absoluteradio.co.uk. Absolute is currently looking for a sponsor for the show.
Wright will also host 'Summer Saturdays', a music and chat show airing on Saturday at 3pm during the football off season.
Additionally, Absolute is upping its digital offering with its 'Match Day Centre' offering. This will offer customers live match data as soon as 30 seconds after the end of games, along with player and team statistics
Absolute Radio has also launched its 'Rock 'n' Roll Football Live Football' app, which is sponsored by Sky.