"In my opinion he can play until he is 40, just like Paolo Maldini and Alessandro Costacurta," agent Oscar Damiani was quoted as saying by Calcio Italia on Monday.
"The club values Panucci very highly and he is very happy in Rome."
The veteran center-back has been on fire recently, producing a string of impressing displays for both his club and country.
He scored a crucial goal for Italy against Scotland in their last EURO 2008 qualifier, sending the World Champions into the finals.
Damiani, though, admitted that Panucci has yet to be approached by the club.
"At the moment no meeting with the club has been scheduled," he said.
"We will see about a contract renewal, but there is no hurry."
Panucci featured 176 times for Roma since joining in 2001. He scored 13 goals.