Pedro will turn 38 in July and Lazio sports chief Angelo Fabiani has declared plans to extend the Spaniard's deal another 12 months.
Pedro told La Gazzetta dello Sport: "As far as I'm concerned, I've decided that I will play at least another year. I'm really happy here and I would really like to continue this adventure.
"I heard his (Fabiani's) words and I was very pleased. I can say that we are discussing the renewal and I think that finding an agreement will not be a problem."
Coaching future
Fabiani also declared there will be a place for Pedro at Lazio once he retires.
The veteran continued: "And I was also very pleased about that. However, this will be a choice to make later with my family. But yes, it would be nice to stay at Lazio even after that.
"Being a coach is a prospect that really appeals to me, but I haven't decided yet whether to take up this career. The only certainty, at the moment, is that I want to stay in the world of football, in what role we'll see."