Basham's current deal expires in the summer and the 20-year-old revealed earlier this week he was hoping to win a contract extension.
Megson insists Basham's contract will be sorted out and has warned the defender to keep his focus on playing and not his future.
"Bash should not be concentrating on his contract and he won't because he is not that type of lad," Megson told Sky Sports News.
"His contract will get sorted out, but he just needs to concentrate on his football and his development and everything else will take care of itself."
Megson also warned his side they need to improve their defending if they want to secure their Premier League status.
Bolton can reach the acclaimed 40-point mark with victory over Portsmouth this weekend and although acknowledging it would not seal their safety, he feels it would provide his side with a big boost for the rest of the campaign.
"I think it would be a huge thing for us to get to that 40-point mark, not that that is going to be enough [to stay up] this season, but it would be a big boost and fillip for us especially if we can get it down at Portsmouth," added Megson.
"The problem we have had, even though we are scoring goals, is we are letting in way too many and we are letting in goals of a similar nature and we seem incapable at the moment of stopping that but we must do that."