Pirelli are hoping to have a new deal in place to supply Formula One with tyres before the end of April.
Pirelli returned to Formula One in 2011 as the sport's sole tyre supplier earning rave reviews from teams and fans alike.
However, the Italian manufacturer's deal expires at the end of this season prompting motorsport director Paul Hembery to set an April date for a contract extension.
"We need to know what's going to happen," Hembery told Auto Moto und Sport.
"It's also important for the teams because so much is changing in 2014."
Hembery was also asked about the possibility of a tyre war should the sport be opened up to two rival manufacturers.
He said:"Not that we have anything against competition but as soon as there is more than one tyre manufacturer it will be really expensive as you can quickly invest 100 million euros in finding half a second."