The Welsh wizard, who is approaching his 20th senior year with the Red Devils, is out of contract at the end of the season.
Gill said: "I wouldn’t be surprised if he extends his contract for another season. "That will be addressed in the next month or so. He has been playing well, keeps himself in great shape and is a wonderful advert for the modern footballer."
Gill also believes manager Sir Alex Ferguson's experience will prove crucial in the run-in for the Barclays Premier League title.
United manager Sir Alex Ferguson called Giggs an "incredible human being" on Sunday after he made his 600th league appearance for the club against Tottenham.
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