"It's very much about continuity," he said Thursday.
Wall named Kevin Doherty to replace Ken Krawetz, who has said he will not run in the next provincial election expected in April 2016.
The premier also made cabinet veteran Don McMorris his new deputy premier, a title that Krawetz held.
"It's certainly big shoes to fill," said McMorris, who will continue in his role as minister responsible for Crown Investments Corporation, Saskatchewan Liquor and Gaming Authority and Saskatchewan Government Insurance.
Wall has appointed Krawetz the legislative secretary for Saskatchewan-Ukraine relations.
He credited Krawetz with helping to earn Saskatchewan triple-A credit ratings from two different firms.
"His leadership has held the government in good stead, especially when it comes to finances and we'll miss him," he said.
"We're never going to lose those triple-A ratings that we've earned because we want to make sure things are balanced in the province."
Wall said the economy is the most important issue facing Saskatchewan.
"The challenge in oil is there," he said. "There has been some job loss and dislocation so I wanted to make sure that we were moving forward in a steady way."
Oil revenue is down $661 million from last year's budget.
Scott Moe takes over from Doherty as minister of advanced education, while backbencher Herb Cox takes over for Moe as environment minister.
Cox said one of the environmental issues he will work on is the problem of aquatic invasive species such as quagga and zebra mussels.
"It's something that I'm passionate about," he said. "If those things get into our province then we are in big trouble. We have to keep them out."