Bolton chairman Phil Gartside will open contract talks with much-improved Swedish striker Johan Elmander tomorrow.
Elmander is currently the Barclays Premier League's second top goalscorer with eight, a tally which equals his total for his first two seasons in English football following a £10million move from French club Toulouse.
He will be out of contract at the end of the season and Gartside recognises the need to act quickly.
He told The Sun: "He is out of contract in the summer and we have to try to re-sign him.
"I have a meeting with his agent on Wednesday just to do that."
Meanwhile, boss Owen Coyle has praised Elmander for his current hot streak.
The Scot said: "The credit goes to Elmander. He's the one who has to deliver each week and I felt from January he has had everything in his locker.
"He came here with a big price tag, which he earned, and now it's great his hard work and quality are paying off."
On his team's lofty fifth position in the Barclays Premier League, Coyle continued: "There's a very good mix here of young players and experience - and a few big personalities. They all enjoy being in each other's company, the sense of togetherness is important and can help you.
"There is a perception of teams playing certain styles but we have our own flavour. It's worked so far, we have a tremendous work ethic.
"There are players not getting in (the team) at the moment who are all capable of playing. Our strength is as a group, that togetherness."
Bolton recently revealed a loss of £34.5 million for the past financial year, but Coyle is not daunted by the figure.
He told Sky Sports News: "The financial results weren't great but it's owed to one man - the owner Eddie Davies - and I'm as comfortable today as when I came into the job.
"We don't have to sell in January and I'm looking to strengthen because we don't have the numbers."