Jason Taumalolo is now regarded as one of the best league players in the world.

Auckland-born Jason Taumalolo is set to become the highest-paid forward in the NRL and be given a contract of A$1.2 million (NZ$1.24m) a season.

The 23-year-old is tipped to win this year's Dally M Medal, next week in Sydney, which would see him recognised as the best player in the NRL.

On the back of this his agent, Chris Orr, will start negotiations for a new contract with the Cowboys, with his current deal running out at the end of next season.

The Courier Mail in Australia has reported that the Cowboys have begun moves to re-sign Taumalolo, with his new contract of about $1.2m expected to dwarf that of any other forward in the game.

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Cameron Smith is currently the highest paid forward, pocketing A$1 million a season at the Storm.

The Warriors tried to sign Taumalolo in February last year and were prepared to offer him $2 million for two years, but the lock turned down that offer and chose to remain in Townsville for $750,000 a season.

Having missed out, the Warriors went in a different direction and signed hooker Issac Luke and fullback Roger Tuivasa-Sheck, although Tuivasa-Sheck was more of a like for like replacement for Sam Tomkins.

While the Cowboys will be the favourites to keep Taumalolo, who moved to Australia when he was 13, there will be plenty of interest from other clubs, but Cowboys co-captain Matt Scott said the club need to go as high as they can to keep the star player.

"We should throw the kitchen sink at him," Scott told the Courier Mail.

"There are guys like him, Coen Hess, Ethan Lowe and Morgs (Michael Morgan) who you need to build a club around.

"There's no doubt he's really enjoyed his time here and the Cowboys have brought out the best out of him.

"I'm hoping he realises that and doesn't want to go anywhere else."

Taumalolo, who will play a key part in the Cowboy's Preliminary Final against the Sharks on Friday night, has often spoken about his admiration towards North Queensland coach Paul Green and that could well be a telling factor in what he decides to do.

"I will find out where my future lies over the next 12 months," Taumalolo said.

"I really like it in North Queensland. There's a lot of people who have helped me carve out the career I have now including Greeny.

"I was thinking about moving clubs and seeking out a fresh start before Greeny came along. He restored faith in me and now I'm willing to pay him back."