The Nigeria international proved his worth to the side with a stunning volley that clinched a 3-2 win at Newcastle last weekend.
Aluko's current contract is due to expire at the end of the season, and talks over a new deal have been ongoing for several weeks but have yet to reach a conclusion.
"We always want to keep our best players and make no mistake about it, if Sone stays injury-free he could light up the Premier League," said Bruce.
"We'd like to tie something up with him but as we all know the Bosman ruling is a horrible thing against a football club, so we'll try and do our best and see if we can get him tied up.
"I know he's enjoying playing at this level and enjoying playing at this club so we'll try and get a deal done sooner rather than later as far as I'm concerned.
"It's been going on for weeks now...it's edging along. Hopefully we're coming to a conclusion but I wouldn't be surprised in another week if I'm sitting here and it hasn't been done.
"I'm trying my best, put it that way."