Roberto Mancini has been impressed with the Argentinian's attitude since their infamous falling out last season, and he expects talks to begin shortly.
Mancini said: "I don't know what Carlos thinks about this. We have another 18 months and I think we have the time to talk with him about this. When Carlos takes his decision, he will talk with us."
When asked whether a one-year extension could be an option, Mancini added: "Yes, this could be because Carlos is 28 and he has other years to play. I think that this could be an option.
"His behaviour is very good, he works very well. He is an important player because he has experience in this moment and also now he can help Mario which is important."
Mancini is not concerned about trailing Manchester United by seven points, even if the gap was to grow this weekend.
"They play at home against Liverpool and we play against Arsenal away," he added. "Everything is possible in this moment but it doesn't change anything.
"Last year United recovered when we were five points up and after Arsenal we went eight points behind. United recovered 13 points. So, we can recover 10. It is not a problem."