The Burnley boss had put talks surrounding a new contract on hold until the Clarets' safety in the Premier League had been assured.
However, with their status in the top flight confirmed, conversations with ALK representatives and chairman Alan Pace can now go ahead.
The 49-year-old, who is closing in on 400 games in charge with the club in all competitions, is entering the final year of his current deal.
"I made it clear that the main focus for me was to keep us in the Premier League, now we've achieved that it's different on that score," he said.
"I'm sure over the coming weeks they'll speak to me, they've mentioned that they want to."
With two games still to play this term, Dyche is already being associated with impending vacancies at rival clubs.
The ex-Watford chief has been installed as one of the favourites to replace Crystal Palace boss Roy Hodgson, who recently announced that he'd be stepping down from his role at Selhurst Park at the end of the season.
It wouldn't be the first time that the Eagles have expressed an interest in taking Dyche, who has been linked with a host of other clubs during his tenure.
He said: "I have always maintained the same thought, eventually things in football change. But I have been saying that since our first promotion.
"Links come up and I am always flattered by any links at any level of football because I respect the whole of football.
"I played up and down the levels of football and my respect has always been there for what football is."
Dyche added: "My role here is what it is, I am still working hard, I think that has been shown this season with myself, my staff and the players. I never lose sight of that.
"If things change in the future? Who knows, you can't guarantee what is going to be in football, that is one thing I know.
"Planning a future is not so easy in football, twists and turns, doors open and doors close.
"At the moment I am still Burnley manager and I must have said that a number of times down these eight and a half years a number of times."