Edmonds' existing contract will end in late 2010. Edmonds reportedly made £1.5m, when he last signed to remain at the show three years ago. He was also involved in negotiations have taken place over Channel 4's decision to make cutbacks in the prize money paid.
Contestants can currently win up to £250,000. The presenter does not have any exclusivity agreement with Channel 4 and presents shows on other channels.
Deal or No Deal is one of Channel 4's most popular shows of the past five years. The show, launched in 2005, attracted around 5m viewers at its peak and now attracts a viewership of 2.2m.