The 50-year-old Frenchman joined Roma from Lille last year and has enjoyed immediate success at the capital club.
Roma are set for their best finish since the 2009-10 season - when they finished second - after winning 21 of their first 30 Serie A matches.
They are 11 points behind runaway leaders Juventus, but the second-placed capital club are six points ahead of their nearest rivals, Napoli, and have a game in hand.
Roma general director Mauro Baldissoni told asromanews.it: "Garcia has one year left in his contract and hence, we have all the time to discuss his renewal.
"We want to reciprocally extend our rapport. There is time to renew his contract."
Roma can cut the gap on Juve to eight points with victory against Parma on Wednesday, and Baldissoni is not giving up hope that they can claim a stunning league victory.
"I'm optimistic that Roma can win its remaining games," he added.
"With regards to Juve's advantage in the standings, we can only hope."
Juventus lost 2-0 at Napoli on Sunday, just their second league defeat of the season.
