The Switzerland international, a product of Arsenal's youth academy, joined the Bundesliga club on loan for the rest of the season in January after falling out of favour with the Gunners.
It is thought the 26-year-old, who is contracted at Emirates Stadium until 2015, is enjoying playing regular first-team football in Germany after making just two senior appearances for Arsene Wenger's side this term ahead of his move.
His agent, Marco Lichtsteiner, has hinted the player could stay at Hannover beyond the end of his loan deal and will open talks with general manager Jorg Schmadtke this week.
Lichtsteiner told BILD: "Johan and his family are very happy being at Hannover 96. The project very much fits the bill for Johan.
"We will have a first round of talks with Jorg Schmadtke on his future situation in the next couple of days.
"We would like to have a good decision by the end of May."