Wood, who has been vice-captain for the past two seasons, was the stand-in skipper when the Bulldogs won the premiership in 2016, with Murphy sidelined with a knee injury.
“It’s a huge honour. I’m really excited about taking on the role,” Wood said.
“I feel like I’ve been pretty fortunate to have had a great lead-in into it when Bob went down, but still having that support there for him to guide me through it.
“I couldn’t have had a better apprenticeship. It’s exciting to have that challenge and opportunity to keep growing.”
Wood has played 125 games with the Bulldogs since making his debut in Round 19, 2009 against West Coast. He was recruited with pick No.43 in the 2007 National Draft.