The youngster has made an accomplished start to life with the national team and his status as an England international is set to be reflected in his wages at Leicester City.
His current contract ends in 2021, so although a new contract was not urgent, his employers are keen to keep the player happy by increasing his financial compensation.
Chilwell has previously been linked with a move to Tottenham, but now, according to 'MailOnline' he looks set to remain at the King Power Stadium.
Leicester boss Claude Puel lauded his player recently, ‘'He is a complete player for us,'’ said the Frenchman.
''He can attack, he can defend, he can become a valuable player for the national team, he can compete with all the players.
''It was fantastic for a young player to start his first game for the national team. Now he needs to keep improving and maintain consistency.''