Fox and the Broncos will begin negotiations on a new contract after the Super Bowl, reports NFL Media's Ian Rapoport. According to Rapoport, the two sides are "confident" they will get a deal done and a Broncos source said "he's perfect for us."
Contract negotiations have been expected for some time, with rumors dating back to mid-December.
Fox was hired as the head coach in Denver in 2011 and has taken the Broncos to the playoffs in each of his first three seasons.
This season, Fox led the Broncos to a 13-3 record and the top seed in the AFC playoffs, designing a record-breaking offense around league MVP Peyton Manning. He has led Denver to its first Super Bowl appearance since John Elway won the title in 1998.
It's Fox's second trip to the Super Bowl, having gone to and lost the championship after the 2003 season as the head coach of the Carolina Panthers.