Emery is said to be happy at Villa and there are plans to sit down with the club to prolong his terms further as early as the summer, as per The Athletic.
Villa's owners Nassef Sawiris and Wes Edens are pleased with the 52-year-old Spaniard and see him as their "version" of legendary Manchester United boss Sir Alex Ferguson.
Emery's extension will be a boost for the Villans with Emery linked to a host of clubs for his work so far this season.
Villa are fourth in the Premier League and in a strong position to qualify for the Champions League and have reached the Europa Conference League semi-finals.
Emery was appointed in October 2022 in place of Steven Gerrard after winning the Europa League that year with Villarreal.
Villa host Chelsea in their next Premier League outing on Saturday and face Olympiacos in European action next Thursday.
