Silva joined the Blues on a free transfer after the expiry of his contract with Paris Saint-Germain following the 2019/2020 Champions League final.
He has since made 21 appearances for the Blues in all competitions and has impressed with his commanding performances and leadership qualities.
The 36-year-old is currently on the sidelines with a hamstring injury, but the Blues are still proceeding with the contract talks.
His current deal expires at the end of the season, but the club have the option to extend his stay for another 12 months by mutual agreement.
Romano has revealed that talks are ongoing between the player and the club, and a final decision could be made in the coming weeks.
Chelsea are still working to extend Thiago Silva’s contract, waiting for the final decision in the coming days/weeks. Meanwhile, AC Milan are “so happy” with Fikayo Tomori impact and performances – the board will decide in May on the €28m buy option. 🔵 #CFC #ACMilan
— Fabrizio Romano (@FabrizioRomano) March 19, 2021
Silva is currently on wages of around £110,000-a-week, but the club appears happy to extend his stay beyond this season.
Despite turning 36, the Brazilian has shown no signs of slowing down and has adapted to the demands of English football with relative ease.
After a four-week lay-off with a hamstring injury, he returned to the matchday squad against Everton earlier this month.
However, he subsequently suffered a minor setback in training, and manager Thomas Tuchel recently said that he may return after the international break.
Stats from Transfermarkt.com