Although the defender's contract with the club only ends in June 2019, the Clever Boys are determined to tie him down.
Wits are rumoured to have tabled a new three-year deal, but Hlanti wants better financial terms.
According to a source, the 28-year-old is likely to stay with the Telkom Knockout champions.
Contacted for comment on the matter, Hlanti's agent Sizwe Ntshangase confirmed that negotiations are ongoing between the two parties.
"Yes, negotiations between us and the club are ongoing. As for anything else you can speak to Wits," he says.
Wits CEO Jose Ferreira couldn't be reached for comment.
Hlanti made 35 starts in all competitions for the former league champions this past season.