The 22-year-old has been with the Parisians since the beginning of the 2017/2018 season and his current deal expires in the summer of 2022.
Mbappe is currently regarded as one of the best footballers in the world and would be an ideal signing to every team in Europe.
The 2018 World Cup winner has been heavily linked with a move away from France with Real Madrid are said to be his potential destination.
There were reports in the media which suggested that the former Monaco man was reluctant to renew his contract, but Mbappe broke his silence on extension talks, revealing that he is talking to the board about a long-term contract renewal, with a decision possibly coming soon.
“I’m thinking about it. If I sign [a renewal], it is to invest myself in the long term at PSG! I’m very happy here. I know that we will soon have to make a choice,” he said after scoring two goals in PSG’s 4-0 win over Montpellier on Friday.
“We are talking with the club. I said that I am reflecting on it too, because I think it is a signature, that if I sign, I am investing myself for the long term into PSG. I am very happy here. I have always been very happy here. The fans and club have always helped me.
“And I will always be very thankful to the club. I want to think about what I want to do in the coming years, where I want to be, and that is now I will be reflecting on it. I think that yes, I will have to soon make a decision.
“But for now I am in deep thought. If I’d the answer today, I’d have given it. This is not a desire to take up time, it is just to really think. I don’t want to sign a contract and 1 year later say I want to leave because I didn’t want to sign it. If I sign, its to stay. That is why it requires thought.”