"I think I've established myself," Flacco told The Baltimore Sun on Saturday. "If you're not confident with who I am, I'm not sure what a year is going to make.
"Ideally for me, I would like to start talks this year. Next year, I feel like they would have to throw something in front of me that's going to be pretty legit in order for me to not play out my fifth year. If you don't sign me this year, you're making me play a whole year of my contract with no security. If you want to sign me after next year, what's playing six more months."
Flacco would like to get it sealed up before then.
"If you don't feel like I'm going to be your quarterback for the next 10 years, what's one year going to make? I don't know what the deal is. We'll have to let this play out and see," he said.
"I wish and hope they would do what they want me to do, which is stay here. Obviously, I want to stay here no matter what. I would want them to do something as early as possible."
Flacco, 26, became the Ravens' all-time leader in passing yards (10,206) and touchdown passes (60) in just three seasons after being drafted in the first round out of Delaware in 2008.
Flacco threw for 3,622 yards and 25 touchdowns with 10 interceptions -- good enough for a career-best 93.6 passer rating that ranked seventh in the NFL -- in 16 regular-season starts last season. He led the Ravens to the playoffs for the third consecutive year.
The Associated Press contributed to this report.