"We would very much like to work something out," the coach said Tuesday. "We're working at it. And that's really all we'll say. But we are working at it with every intention of taking care of business. It takes awhile. Things take awhile. His frame of mind and our frame of mind are in a really good place. And we're going to work hard to get something done. We'll see if we can."
Chancellor, 29, is entering the final year of his deal. He said he has not yet heard from the team about a new contract.
"I trust their word," Chancellor said. "I trust what they say. I'll just let it happen when it's supposed to happen. And all I can do is control what I can control right now, and that's playing on the field and keeping that camaraderie together with my brothers and just keep building."
Chancellor held out two games into the 2015 season because he wanted a new contract. He signed a four-year, $28 million deal in 2013. Based on the safety market, Chancellor could be in line for a deal worth more than $11 million per season.
Chancellor missed four games last season due to injuries but played at a high level. He had surgery to clean out bone spurs in both of his ankles this offseason.
Originally a fifth-round pick in 2010, Chancellor has made four Pro Bowls and is considered the leader of the Seahawks' defense.
"I don't know where that falls in whatever they write in the contract, but all I can do is continue being the leader I am," Chancellor said. "And that's not based on how much I'm getting paid or whatever they want to give me. I just want to be the leader I am because that's who I was born to be.
"Hopefully a lot of plays in my favor. But whatever I'm supposed to get, whatever I deserve, that's what I'll get."