Real Madrid have confirmed that they are holding discussions with Pepe regarding a contract extension.
The Portuguese centre-half has been at Santiago Bernabeu since 2007 and has made more than 100 appearances for the capital club.
At 28 years of age he is at the peak of his powers, with his Brazilian roots ensuring that he is as comfortable with the ball at his feet as he his nicking it off an opponent.
His reputation has grown considerably during his time with Real and the likes of Chelsea and Manchester United have been linked with moves in the past.
Real are reluctant to do business, though, and hope they can convince Pepe to prolong his association with their club.
Director general Jorge Valdano admits contract talks have already begun and he is optimistic regarding their possible outcome.
"The negotiations with Pepe are going well," he said.
"He is an excellent person and one of the best central defenders in the world.
"It is true that we have been talking for some time, but I am confident that he will choose to stay on at Real Madrid."