The 26-year-old has established himself as a standout performer for the Seagulls since the arrival of head coach Roberto De Zerbi in September last year.
Mitoma scored 10 goals and provided eight assists in 41 appearances for Brighton across all competitions last season, helping De Zerbi's side qualify for the Europa League courtesy of a sixth-place finish in the Premier League, as well as reach the FA Cup semi-finals.
The Japan international has since made an impressive start to the new campaign, chipping in with one goal and three assists in four Premier League games.
Prior to breaking into Brighton's senior side, Mitoma wrote a thesis on the art of dribbling at the University of Tsukuba and went on to represent Kawasaki Frontale before spending the 2021-22 season on loan with Belgian side Union SG.
The likes of Real Madrid, Bayern Munich, Manchester City, Manchester United and Arsenal were all credited with an interest in Mitoma earlier this year, and Brighton CEO Paul Barber acknowledged that the winger "will be in the spotlight" during the summer transfer window.
However, none of those alleged interested suitors stepped up their interest in Mitoma and Brighton successfully kept hold of the winger in a transfer window that saw both Alexis Mac Allister and Moises Caicedo depart.
Mitoma's current contract runs until the summer of 2025, but 90min reports that Brighton are looking to reward the winger with a new deal.
The report adds that discussions between both parties over a new contract began after the January transfer window earlier this year and negotiations have now reached an advanced stage.
It is understood that Liverpool, Barcelona and Napoli are the latest clubs that are keeping tabs on Mitoma, but Brighton are confident that the winger will commit his future to the club by penning fresh terms on a new contract.
Mitoma is currently away on international duty with Japan and is in line to earn his 18th cap in a friendly encounter away against Germany on Saturday.
The winger is not the only Brighton star to have been linked with an exit from the American Express Community Stadium, as teenage striker Evan Ferguson is also believed to be on the radar of a number of Premier League clubs.
A recent report claims that treble winners Man City as well as the majority of the other Champions League contenders in the English top flight are closely monitoring Ferguson as they consider exploring a move in 2024.
At the age of just 18, Ferguson scored his first Premier League hat-trick in Brighton's 3-1 win over Newcastle United last weekend, with Mitoma setting the striker up for his third goal.