The striker’s contract with the club expires at the end of the season.
Bolton boss Sam Allardyce said: “There was always a possibility he would go elsewhere – he is a quality player.
“But I am glad to say he will put pen to paper on a new contract in the near future by securing his long-term future at the club.
“It would be the biggest boost to this club in a long time. He epitomises everything that Bolton Wanderers stands for.
“He is the ultimate professional and, from my point of view, it would be like signing a top-class striker, he is that important to us.”