The ex-Espanyol player arrived in Italy two seasons ago and did not perform badly last season, in which he scored nine goals and gave four assists in 38 matches.
Lazio are confident are satisfied with the 30 year-old striker, so they are now thinking of extending his contract providing there is an agreement which benefits all parties.
'Il Messaggero' report that there is a meeting planned between the board and Felipe Caicedo to start negotiations.
The player will apparently ask for slightly more than two million euros a season to sign that new contract.