The young forward has scored seven goals since signing on loan from Premier League side Southampton, a temporary spell which is set to expire this week.
“If you look at his quality and attributes why wouldn’t you want to keep Olufela Olomola at your football club?” Way said.
“We’re having talks with Southampton about Fela so hopefully we should have some feedback soon. Then it will be down to the agent and Olomola whether he wants to continue his timel at Yeovil Town.
“I feel it’s right Fela remains at this football club. It’s important the stability he has here is good – with Fela it’s connected.
“For me as a manager I need to do everything I can to keep Fela. Whether it’s a loan or permanent is down to Southampton as he’s contracted to them until the end of the season.
“If it’s permanent and there’s a fee, then that’s what we’ll have to do.”