The veteran has continued to roll back the years in the last 12 months after playing a key role for Portugal at the 2022 World Cup.
Current side Porto still rely on the 39-year-old as a regular starting centre back, with eight starts from 16 league games, and three from six in the Champions League.
His current deal at the Estadio do Dragao expires at the end of the 2022/23 season with boss Sergio Conceicao keen to retain him beyond this summer.
Despite turning 40 in February, he is confident of maintaining his fitness, to play on next season.
As per reports from CNN Portugal, via Diario AS, Porto are willing to offer Pepe an extension until the end of the 2024/25 campaign.
Pepe is also expected to continue to play a role with Portugal, in the run up to Euro 2024, with 133 international caps to his name already.