Wall, who has finished 21st in the V8 Supercars Championship for the past two years, was positive about driving the S60 - potentially a Championship winning car - and having race-winning young gun McLaughlin as a teammate.
"He is obviously a very good yardstick - he's proven to be fast, proven to be clean, a good natured guy, so looking forward to working with him and seeing how we go," Wall told v8supercars.com.au.
"He will more than likely be a Championship contender next year, he finished well inside the top five this year with a fresh car, so [he's] obviously driving quick.
"Hopefully I can learn, hit the ground running, try and be as close to him as possible and then if he's going well, hopefully I'm going well."
While Wall is yet to breakthrough for a V8 Supercars podium - his best race finish to date is fifth in Tasmania this year - he believes he will continue to step up.
"There's always room for improvement - there's no such thing as perfect," he said.
"There's no such thing as the perfect race car, the perfect lap, it's just a matter of trying to get as close to that as possible. So there's always room for improvement. [There are] things in my driving I want to improve. As I said, next year I'm looking forward to a brand new start, brand new team - I've been down to meet them, they're a great bunch of guys."
While some doubt Wall's signing to Volvo was purely on merit, because of Wilson Security and Payce's decision to shift to the team, Wall was firm when responding to the question.
"It's not because of a sponsorship deal," he told v8supercars.com.au.
"The sponsors went there without me. A lot of people associate the two together, but they went to Volvo before me.
"And I was invited to go along as a driver, nothing to do with the sponsorship. So that's the way it goes. Hopefully I can do a good enough job to get another year."
"Obviously the car is very fast and they're doing a very good job of it. So it'll just be a matter of getting to know things and ... I'm sure I'll be able to learn and pick things up from what [McLaughlin] is doing," Wall said.
The Volvo outfit will be Wall's third home in three years, having raced for Brad Jones Racing in 2013 and Dick Johnson Racing in '14, and he is positive about the possibilities.
"I'm really excited to head to Volvo Polestar GRM next year. It's a big opportunity for myself, I can't wait to get stuck into it and get into the car ... I'm looking forward to the first taste of the Volvo and seeing where we pop out."