The Frenchman, who will turn 34 years before the end of 2021, has scored 29 goals in 44 games in all competitions this season.
Karim Benzema’s form has led to Didier Deschamps ending his departure from the national team ahead of Euro 2020.
According to Italian journalist Fabrizio Romano, Real Madrid also wants to extend their contract until the end of the 2022-23 season.
While Benzema will attract interest from other areas in the summer, the report suggests that no party is in a hurry to finalize the terms due to their ‘strong relationship’.
As he nears the end of his 12th season at the Bernabeu, Benzema is looking to win his 19th silver piece by lifting the La Liga title at the weekend.