Despite being 36, United believe he can play on until May 2009 before eventually leaving Old Trafford and will offer him a new deal, reports the Daily Mirror.
The Dutch goalkeeper, who currently earns around £35,000 a week, will retire from international football with Holland after next summer's Euro Championships.
Sir Alex Ferguson waited until the summer of 2005 to take the keeper from Fulham, and said: "Edwin has been with us for three seasons now and when I bought him I knew he was going to be one of my best buys.
"I should have done it years ago when I had the chance but I let it slip through my fingers. Even now, at 36, he still has such great enthusiasm.
"He has played 120 times for Holland and won everything in the game, yet he still sets such a great example for all other goalkeepers."