The former Celtic striker’s current contract is set to expire at the end of the season.
“We would all be delighted if he stayed,” said McCoist. “I know his representative and [chief executive] Martin Bain have had lengthy discussions.
“It’s not over the line yet but we are very, very hopeful that Kenny will be staying here and signing a new contract.
“You have a word here and there but it’s only fair to let Kenny make his own mind up.
“He’s got a young family and decisions to make and it will be his decision only but hopefully he stays.”
