The two sides have been discussing a new deal during spring training, but talks really picked up seven to 10 days ago. Earlier Monday, Votto declined to get into specifics when asked how close the two sides were to completing a deal.
"Ask Walt about that," Votto said, referring to general manager Walt Jocketty.
On Tuesday, Votto continued to sidestep questions about the new deal while Jocketty raised both hands when questioned about it.
"Not talking about it until it's finished," Jocketty said.
The Reds tried to sign Votto to a long-term deal after he led them to the NL Central title and won the NL MVP award in 2010. Instead, they settled for a three-year, $38 million deal that avoided salary arbitration and kept Votto under contract through 2013.
The 28-year-old first baseman has base salaries of $9.5 million this year and $17 million in 2013. He batted .309 last season with 28 homers and 103 RBIs, making the All-Star team for the second straight year.
The Reds have tried to lock up the young nucleus of their playoff team with multiyear deals. Outfielder Jay Bruce got a six-year, $51 million deal after the 2010 season.
Two other NL Central first basemen left their teams to get enormous deals in the offseason. Albert Pujols, who helped St. Louis win the World Series, signed a 10-year, $254 million deal with the Angels in December. Milwaukee's Prince Fielder got a nine-year, $214 million contract from the Tigers in January.
Information from The Associated Press was used in this report.