The club are ready to take up the option in his current deal to keep him at White Hart Lane.
But King's hopes for a longer commitment will have to be put on hold as Spurs continue to manage his chronic knee problem.
Reward: King (right) is set to be awarded with a one-year contract extension
Manager Harry Redknapp said: 'He'll be here next season. We want Ledley as part of this club. He's been here since he was a boy. You have to look after people like that and he's up there with the best centre-backs in the country.'
King has started 13 Premier League games this term and should be available to face Wigan today. Spurs also face Bolton and Everton over the next week, so Redknapp has to decide the best way to deploy a player who seldom manages two games in quick succession.
But he is in no doubt about how England should use the 29-year-old defender, with a friendly against Egypt on March 3 and the World Cup finals in South Africa this summer.
'We've got to keep managing the knee,' said Redknapp. 'He's never going to be right. I'd take him to the World Cup and there's every chance he'll go. But if he plays against Egypt then he misses both Saturdays for us.'
Under pressure: David Bentley
Another player capped by England who looks likely to miss Spurs games soon is David Bentley. The midfielder has found form after taking the place of Aaron Lennon but the latter is expected to return from a groin injury soon.
Gareth Bale will also face competition from Benoit Assou-Ekotto, who is near full fitness after a similar problem, and the stand-ins need to do well at Wigan.
Redknapp said: 'They are playing for their places. Aaron's difficult to keep out of the team, isn't he? But I've been delighted with Bentley and Gareth. They've both done well.'
The trip to Wigan will bring back memories of the 9-1 drubbing they inflicted on Roberto Martinez's side at White Hart Lane in November.
Since then, however, it has not been plain sailing for Spurs and they have failed to find the net at all in four of their last six matches, although Redknapp rejects claims his team are in danger of under-achieving.
'If you'd said at the start of the year we'd be where we are and in the FA Cup, I think everyone would have said "fantastic",' he said. 'People get carried away. Suddenly people think we're going to get in the Champions league. We can still make the Champions League, make no mistake. It's going to be an exciting end to the season.'
Redknapp also bristles at the suggestion his team are following in the line of previous Spurs sides who have failed to deliver when it really matters.
He said: 'It's a new team. I don't go with all that rubbish. How can that have any bearing with what happened in the past?
'These players don't know what happened four years ago; they probably don't even know they won the Double in 1961.'
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