Subban's agent, Mark Guy, confirmed the two sides have not yet started negotiations. Talks should commence in the coming weeks.
The 23-year-old is coming off of a three-year, entry-level contract that paid him a base salary of $875,000 per season. His next annual salary is expected to be in the $3 million range.
Habs GM Marc Bergevin seems focused on shaping his management staff and hiring a new head coach before beginning talks with Subban and goaltender Carey Price, though it's not yet been confirmed if negotiations with Price have started.
Subban created a bit of a buzz late Tuesday afternoon when he posted on Twitter that he has some news to share with everyone.
"Big announcement coming soon... All my #twitts and #subbaniacs stay tuned..." he wrote.
In addition to Subban and Price, the Canadiens also have to sign RFA forwards Lars Eller, Blake Geoffrion, Ryan White and Petteri Nokelainen, and defensemen Alexei Emelin and Raphael Diaz.
Forwards Travis Moen, Brad Staubitz and Mathieu Darche, and defenseman Chris Campoli can become unrestricted free agents July 1.
It's believed the Canadiens are only interested in keeping Moen, among its UFAs-to-be.