Dal Santo's name appeared on the AFL's free agent list throughout 2013 despite the fact he had a trigger clause in his contract for next season.
The veteran Saint satisfied the terms of that clause when he played 22 games in 2013 and subsequently passed a medical test.
But Pelchen said on Wednesday Dal Santo's free agency window had not been shut, dismissing suggestions the midfielder's only means of changing clubs now was via a trade.
"In terms of Nick's situation that's purely a timing issue in terms of the free agency," Pelchen said.
"The club is yet to submit a new contract and there's every likelihood Nick will still be with us next year."
North Melbourne looks to be the runaway leader in the chase to lure Dal Santo, 29, away from Seaford, although Essendon also met briefly with the three-time All Australian recently.
If St Kilda and Dal Santo decide to part company, the Saints will likely weigh up whether a trade or free agency compensation pick will deliver the best return.
The position of a compensation pick would be determined by weighing up the length and remuneration of Dal Santo's new contract against his age.
Pelchen said earlier this month the Saints and Dal Santo were in ongoing discussions about whether to formalise a contract for 2014.
"It is a case of both parties sitting down and saying they want to recommit to each other," Pelchen said at the time.
An AFL spokesman told AFL.com.au Dal Santo had been removed from the League's free agency list because its Total Player Payments department no longer classified the Saint as a free agent.
St Kilda's list manager Ameet Bains hosed down speculation Dal Santo's possible departure could be followed by those of other experienced players.
Speculation has indicated both Leigh Montagna and Sam Fisher are in the sights of rival clubs but, speaking to AFL.com.au's Gillette Trade Radio, Bains said no offers had been received for such players.
He admitted that while the Saints needed to rebuild, the club wasn't looking to move senior contracted players on.
"We've got to sift through some of that and delineate reality from fiction," Bains said.
"That player must be willing to go somewhere and be happy with what's put in front of them, but also from the club's perspective it needs to be attractive to the club.
"[Other than Dal Santo] there hasn't been a genuine enquiry about anyone else on the list."
