The 25-year-old, who was once the club's record signing, will be a free agent when his contract expires in the summer.
However, he told the Lancashire Telegraph: "At the moment talks are ongoing and they've been ongoing for a while now. I think it will come to a head very soon."
"I think unfinished business is the right way to put it. I don't think Burnley fans have seen the best of me. My best football possibly for Burnley was in the Premier League. I was possibly at the top of my game. When I came back from my knee injury, it was probably the best I've been at.
"It's unfortunate for me I haven't forced my way through this year. I'd like to show the club what I am now compared to what I was when I first came. It's up to me."
Burnley sit 11th in the Championship table.