Wanyama is interesting Manchester United ahead of the January market.
Lennon said: "We are hoping to meet his representative again next week.
"He has been offered a new contract. We don't have to offer him a new contract, his (current one) still has a couple of years to run but we feel it is a reward for performances he has put in since he came in the door.
"Whether his agent feels it is sufficient - that's what negotiations are all about.
"Hopefully we can come to a conclusion about that as well."