Rodallega's current deal expires at the end of the season and he has been linked with Premier League rivals Arsenal, Aston Villa, Everton and Liverpool.
The Colombian has recently returned to fitness after a knee injury and Martinez has outlined the striker's importance to the Wigan side.
However, following a run of six successive defeats in all competitions, Martinez wants the priority to be ending that disappointing sequence.
"We're still talking," said the Latics boss regarding the negotiations with Rodallega.
"He's very important to us and he's still developing as a young man.
"We've got a very good relationship with his agent, who is in Colombia, so it's sometimes difficult to have continuity in our talks.
"We all know he's got the potential to play at any club in world football so we need to enjoy him while he's with us.
"But it's important that we focus on getting a positive result on the pitch and then all of the individual results will be resolved."
Martinez is happy to have Rodallega back at his disposal for Saturday's game at Newcastle United after admitting Magpies striker Demba Ba was out of his reach in the summer.
He added: "Ba was out of our price range. He was in Marks and Spencer and I normally shop on the internet.
"But for Hugo to come back so quickly is just a real example of how professional he is. It's been a real boost to the squad."