The 38-cap former Spanish international arrived in Sussex last season after 11 years at Valencia and impressed supporters with a string of jaw-dropping performances.
His impact was limited to just 17 games though as he battled injury but he ended the season strongly – leaving Brighton facing stiff competition for his services.
Neither Vicente or his agent have commented on the extension yet – but it is believed he is keen to stay in Sussex.
The alternative could be that he is eyeing up a move and that Brighton have taken up the option in order to secure a transfer fee should their star be tempted away.
If he stays, the 30-year-old, nicknamed The Dagger of Benicalap, will link up with his fellow former Valencia player Bruno Saltor – more commonly known simply as Bruno – who arrived at The Amex earlier this week.