Bielsa's policy has been to sign 12-month deals for each season since he arrived at Leeds in 2018 and his existing contract expires in June.
When asked about the club's transfer planning, Bielsa said: “Any needs that the team or the club have, I will respond to them with open arms."
Asked about sporting director Victor Orta, Bielsa also remarked: “Victory has a clear vision of the composition of the group.
“He controls the needs of every player and every position in the club.
“He's a man with a big capacity for this evaluation and when he needs my opinion or evaluation on a certain subject, I will always be at his disposal."