The 35-year-old has suggested that he wants to finish his career on Merseyside by signing a deal, which will keep him at the club until 2014.
"I'm happy here," Distin told Evertontv. "It's a great club, I've said that from day one. I didn't have any reason to leave and the club wanted me to stay, so I'm happy that we could figure it out and that I'm staying for another season.
"It's not only about football and it's definitely not just about money. At my age it's not the most important thing because you want to enjoy your life as well. That has happened to me at this club."
The Frenchman has been playing for the Toffees since his move from Portsmouth in 2009.