Hitchcock, 22, played just two games for Port in 2012 as he struggled with recurring hamstring injuries.
But his manager, Greg Size of Deliver Sports Management, told AFL.com.au the Power had recently indicated Hitchcock would be offered a new contract.
"Port have said they're keen for Cameron to play on, which he's really rapt about," Size said on Thursday.
"He's happy at Port and excited he'll now get the chance to play under Ken Hinkley."
Port's commitment to Hitchcock follows a raft of recent player departures.
Hinkley took over as Port coach last Monday and just four days later the Power announced the delistings of David Rodan, former vice-captain Jacob Surjan, Mitch Banner, Simon Phillips, and rookies Mitch Curnow, Jarrad Irons and Daniel Webb.
Earlier this month, midfielder Danyle Pearce and key defender Troy Chaplin left Alberton Oval to join Fremantle and Richmond respectively via free agency.
Fellow free agent, out-of-favour midfielder Steven Salopek has also declared his desire to find a new home by the end of the Gillette AFL Free Agency Period on Friday, while Port's first pick in the 2010 NAB AFL Draft, 20-year-old defender Ben Jacobs, has signalled his desire to return to Victoria via a trade, with North Melbourne, St Kilda and Essendon reportedly among his suitors.
Port preferred not to comment when contacted by AFL.com.au about its discussions with Hitchcock.
Size said Port had not discussed the likely length of Hitchcock's new contract.
Hitchcock, 22, has played 32 games and kicked 30 goals for the Power since being selected at pick No. 12 in the 2010 Rookie Draft.
Nick Bowen is a reporter for AFL.com.au. Follow him on Twitter: @AFL_Media
