Talks have begun to extend the 31-year-old's stay at Pride Park, with both the club and the player hopeful of reaching an agreement shortly.
"Ben has done really well when we've called on him this season," Rams boss Nigel Clough told the club's official website.
"We've said it before; he's a model professional with a fantastic attitude and someone for our young players to look up to. With that in mind, we've begun having a chat with Ben about keeping him around next season.
"He's a very important member of the squad and he's got the ability to make an impact whether he starts or comes off the bench, so hopefully we'll get something sorted soon."
Davies came off the bench to score his fifth goal of the season in Derby's 2-1 defeat to Blackpool on Saturday - his third goal in his last nine appearances.
Speaking after the Rams' final away fixture of the season at Bloomfield Road, Davies said: "My agent sat down with the club last week and they have offered me a deal.
"Hopefully, we can speak again this week and get things sorted out. I'm sure we can. I'd love to stay. I love it here - Derby is a massive club - and I'm settled in the area."
Davies joined Derby from Notts County in January 2011 and has made 74 appearances for Clough's team.