The Hammers are keen to get the youngster signed to a new contract.
The young midfielder was a breakout star for the Hammers last season as Slaven Bilic handed him a debut in the opening game of the season against Arsenal.
He shone in that game and went on to make several further first-team appearances in the Croatian’s side across the campaign.
FC Lusitans’ Jose Aguilar and West Ham's Reece Oxford in action
He is highly-rated at the London Stadium, with them hoping he will develop into a first-team star in the coming years.
Indeed, they are not the only ones to recognise his talent, with Manchester City and Manchester United both interested in his services according to the Sun.
Everton's Romelu Lukaku in action with West Ham's Reece Oxford
West Ham are naturally keen to get him signed to a new deal, but it seems the player is determined to get the best deal possible.
According to the Mirror, Oxford wants a new contract to include improved wages and more performance-based add-ons.
It now remains to be seen if a deal can be reached, with West Ham sure to be keen to get one signed as soon as possible.
West Ham manager Slaven Bilic and Reece Oxford as he is substituted