The on-fire attacking midfielder - whose two goals in the 3-0 win over Motherwell took his tally for this season to 19 - has read about a new, three-year deal.
But Commons admitted he has not had any approach from the club about extending the contract which has a year to run, or about the club exercising the 12-month option they hold.
Lennon insisted there is a simple explanation why nothing has be done to secure the 30-year-old's future - and that he is very much wanted at Parkhead for the long term.
The Hoops boss said: "We have a year's option on his contract, which has still got a bit to run.
"I would assume it is in the club's best interests to take the option. I don't think there would be any disagreement with that."
When asked if he has any plans to sit down with Commons and talk about extending his deal, Lennon replied: "Not at the minute, no.
"It's not top of the agenda - but it may be later on."
Lennon explained this is because his priority is dealing with Georgios Samaras and Joe Ledley, who find themselves in the final five months of their contracts and free to speak to other interested clubs while they mull over the new deals Celtic have offered.
But he added: "We don't want that to happen to Kris, either.
"He is 30, but he is such a valuable player, and he could play on for another three or four years, certainly."
Meanwhile, while Lennon is hopeful he can get another few new faces in to bolster the squad before the transfer window closes, he is also keeping his fingers crossed the club's lengthy injury list will also begin to ease.
Steven Mouyokolo has been out all season with a ruptured Achilles but is now in the final few weeks of rehab.
And Beram Kayal - who suffered a broken bone in his foot back in the Champions League defeat to AC Milan in November - is also coming to the end of his time out.
The manager said: "Beram has just come out of wearing the protective boot, so he has got a little bit of rehab to go.
"It will maybe be three weeks or so."
Lennon reckons Samaras will have recovered from the injury picked up in training on Friday to come into contention for next weekend's game against Hibs.
But he added: "Mikael Lustig is long term, and Adam Matthews is going to be three or four weeks with the calf strain he picked up in Turkey.
"So, we are down to the bare bones a bit, certainly in the right- back position.
"But Darnell Fisher is an able option there."