The Tigers have offered the 22-year-old what they believe is a fair contract for him to stay at the club beyond this season.
Richmond CEO Brendon Gale said he didn't believe there were any issues when it came to negotiations and believed Martin would follow spearhead Jack Riewoldt and recommit.
"It's probably taken a little longer than we would have liked but we're pretty confident there's some details [we can] work through," Gale told 3AW on Saturday.
"I think Dustin doesn't want to go anywhere, wants to be at our club, he's an important part of our future, we love Dusty, he's a kid who's really matured and evolved the past couple of years.
"We're pretty confident that will be done in due course."
Richmond football manager Dan Richardson said there had to be a balance between paying players what they're worth and ensuring there was enough to go around and contribute towards keeping a successful group together.
The Tigers are poised to play finals this season for the first time since 2001.
He said while he wasn't sure when the Martin deal would be finalised, he was confident it would be.
“We’re still working through it, we're really confident Dustin is happy and he'll stay at Richmond," Richardson told AFL LIVE on Saturday.
"Sometimes these things just take a bit of time for both parties, but I think common sense will prevail.
"I think Dustin should stay at Richmond, we certainly hope that he will and look, we've offered him what we think is a very fair contract and we hope that gets a result soon, but I can't give you a timeline on it."
Martin will play his 82nd AFL game on Saturday against the Brisbane Lions after making his debut in round one of 2010.
In the past four weeks, he's averaged 29 disposals a game.
Martin has been said to have been influenced by off-field distractions in his short career but is believed to have settled somewhat this season under the guidance of development coach Mark Williams.
Daniel Jackson and Dylan Grimes are the latest Tigers to recommit with Riewoldt, Trent Cotchin, Alex Rance, Brandon Ellis, Nick Vlastuin, Chris Newman and Jake King others to sign on this year.
Reece Conca remains out of contract.
Jennifer Phelan is a reporter for AFL Media. Follow her on Twitter: @AFL_JenPhelan