The 18-year-old is nearing the completion of his two-year scholarship within the academy and has been rewarded with a deal following his progression. The midfielder has also brushed aside the disappointment of being released by Leeds United just over two years ago to bounce back and earn a chance with Scunthorpe.
Speaking to iFollow Iron he said: "Obviously, I'm overwhelmed by it.
"It's been a big year by me and the lads in the youth team. There have been ups and downs, but I'm excited to get started."
The year started off with Pugh being invited on the first team pre-season tour to Obertraun in Austria, an experience which has proved to be vital for his progression over the course of the year.
"Me and Jack (Harrison) went and I enjoyed it," he continued.
"It was obviously a bit different from what I was used to, but it went well. Jumping back from when I got released (from Leeds United), it's gone well. With the people around me, I've been pushing myself forward to get where I am now.
"I think I've progressed a lot both physically and mentally, so I think it's gone well."
Next season, he is likely to link up with the newly formed Under-23s side managed by Russ Wilcox, a prospect he is looking forward to as he looks to further develop as a player.
"I am (looking forward to it). Russ is very experienced, he's a great coach and I've been able to work with him already, so I'm looking forward to it. Every game is tough, so I just try and get the most out of it and keep pushing myself.
"You learn a lot from those games. I look at other players in my position and learn from what they do on and off the ball."
"I like to see myself as a midfielder, box-to-box, and I always try and support the team up and down the field.
"There's always a target to get a few goals along the way and try and get myself towards the first team squad. That's always a big target."
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