The Hibernian striker, on loan from the midlands club, has scored 27 goals this season to win the PFA Scotland Young Player of the Year award, while his parent club suffered a second straight relegation, sealed with a 2-0 final-day defeat at Brighton on Saturday.
Griffiths was nominated for the Player of the Year award but that was won by Motherwell’s Michael Higdon while Queen of the South boss Allan Johnston was named Manager of the Year.
Saunders claimed he has already started planning for next season and will make “make drastic changes” to his squad, and Griffiths will soon discover if that involves him returning from Easter Road.
The 22-year-old said: “I go to speak to the Wolves manager next Thursday and see what his plans are for next season.
“I don’t know what those talks hold but I know I will go down there and return in high spirits.
“The manager will want to bring in his own players and if I am part of his plans then great but if not then obviously I will need to see what happens.
“I will come back up here and I will have some important games to play for Hibs.”
The boyhood Hibees fan is looking to reach the 30-mark and finish off the season with a William Hill Scottish Cup final win over Celtic at Hampden later in the month.
“I am absolutely delighted,” he added. “It has capped off a dream season for me.
“I was very nervous listening to the nominations and when my name got called out my stomach kind of fell out of me but I am delighted to get the award.
“I was handed the number nine shirt, something I had been dreaming about since I was a little boy and I have scored 27 goals and now I want to get 30 and try to win the Scottish Cup.
“It is going to be a hard game. Celtic aren’t the champions for no reason, they don’t go and beat the world’s best team (Barcelona) if you are not a good team yourself but we are capable of beating them.
“We have proved that this season already and hopefully we can do that on the day.”
Johnston, whose side were Irn-Bru Second Division winners - the first team in Britain to win their league - and who also won the Ramsdens Cup, beat off the challenge of Inverness boss Terry Butcher, Motherwell’s Stuart McCall and Celtic manager Neil Lennon to land the coveted accolade.
Johnston spoke of his delight at winning the award.
He said: “It is unbelievable. I was delighted to be nominated but to win it is a thrill.
“When you look at the other guys, Neil Lennon and his exploits in the Champions League, it is amazing.
“Terry Butcher and Stuart McCall have had fantastic seasons as well so even to be mentioned along with these guys, I was honoured.”
Earlier in the evening, Rangers defender Lee Wallace picked up the Irn-Bru Division Three Player of the Year award.
Falkirk striker Lyle Taylor came out top in the First Division while Queen of the South striker Nicky Clark, a target for Rangers boss Ally McCoist, won the Second Division award.
Former Scotland boss Craig Brown picked up a Special Merit award.
Goal of the season went to Dumbarton’s Bryan Prunty for his overhead kick in his side’s 3-2 victory against Livingston in February.