The nose tackle has two seasons left on his current deal with the AFC North side, but the team is keen to agree an extension with him before the start of the 2014 campaign.
The general manager told the team's official website: "We wanted two things from these contracts. The first is to create some cap room and the other is to try and make sure these two players remained Ravens forever. We got 'Sizzle' done and we're still hopeful with Haloti."
The Ravens missed out on a place in the playoffs last season, despite winning the Super Bowl the year before.