Hamilton's present three-year contract with the Silver Arrows expires at the end of next season and his new contract is also believed to last three years.
"It is quite an easy process for us," Hamilton was quoted, as saying by Sport24.
The British racing driver added, "We already have something in place and it's really just about extending it and enhancing it, working on what more I can do for them, for the sponsors, the brand and vice versa.
"But I'm pretty sure within the next month or so we will have had time to have sat down," said Hamilton.
The Briton who lifted his fourth Drivers' Championship title at the Mexican Grand Prix this weekend sad, "Now all the pressure is off, we can go and enjoy these next couple of races."
The 32-year-old's new expected extension is said to be worth £100m, with his new deal set to be evaluated in the region of £120m. (ANI)