The Northern Irishman has been in discussions with the club as he seeks to resolve his long-term future.
His current contract, the one he signed after taking over from Alan Stubbs in the summer of 2016, will expire at the end of the 2017-18 season.
Lennon wishes to remain at Easter Road as he attempts to turn the club into a perennial European contender in the Ladbrokes Premiership.
He said: “I’m very happy here.
“I’m pleased with the players and support I’ve had since I walked through the door. Hopefully, I’ll get something resolved in the next 24 hours.”