The experienced 33-year-old signed a two-year deal at Goodison Park in August, with the second dependent on the striker making a certain number of starts for the Merseyside club.
Everton manager Roberto Martinez described the former Cameroon international as a "gift from the footballing gods" after a fine start to his Everton career that has seen him score four goals in nine appearances.
And Martinez is certain Eto'o will remain with the Premier League club and continue to prove an influence on and off the pitch.
"It's natural he'll get another year," Martínez said. "The option for a second year is based on number of games played, so it will come automatically.
"All I want is for him to enjoy his football and convey the winning mentality he has to the rest of the team.
"I always thought his period at Everton would be a minimum of two years because the option reflects that.
"He could trigger the clause very soon the way he's playing but the clause is not in my mind or his mind.
"He's happy playing for Everton, enjoying his day-to-day work, and that's it really."
