The 24-year-old joined from Kidderminster Harriers in June on an initial one-year deal, but has had his chances limited after being ruled out with a leg injury since October.
Despite making just eight appearances this year, former Inverness manager and current Hibernian boss Terry Butcher has revealed his interest in the former Stockport County player.
"We want to bring in some quality players and James, who I signed before, is a quality player," Butcher said earlier in the week.
However, Caley manager John Hughes is attempting to ward off interest from Hibs by offering Vincent a contract extension.
"From what I have seen in training it does not surprise me clubs might be interested in him," Hughes told the Daily Record.
"He is another player who we will give a contract to as well as Ross Draper. I hope they follow Richie Foran's lead and be here next year.
"We will do our best to keep as many of these boys at the club. If they can get a better deal elsewhere then everyone will understand that. It's a back-handed compliment if they are wanted by Terry that he sees them as good footballers."