The Belgium international midfielder cost a club record £15 million fee back in 2008, and has become a mainstay in the Merseyside team, impressing this season with excellent performances.
With his current deal expiring in June 2013, Moyes has been keen to extend the versatile player’s deal, and feels this is close to being completed.
“I think it is very close to getting done,” the Scottish coach told the club’s official website.
“The chairman and the chief exec have been working on it for a while and I’ve been waiting on the good news and hopefully it’s not too far away.
“He has been a really good player for us over the last few seasons and if we can keep him it will be really good,” he concluded.
Everton’s financial troubles are well documented, and the Goodison Park outfit were forced to sell star player Mikel Arteta to Arsenal in the last transfer window to balance the books.
Moyes knows that if Fellaini does not sign a new deal soon he may be forced to sell the player amid the risk of losing him on a Bosman, but an extension would be a major boost for the club.
By Gareth McKnight