The Taoiseach has told a meeting of Fine Gael TDs and Senators that the Confidence and Supply Agreement with Fianna Fáil is only seven pages long and should not take too long to review.
He said that any new agreement would have to be signed off by the Fine Gael parliamentary party, the Independent Alliance and the other Independent ministers in Government.
The meeting came after Fianna Fáil leader Micheál Martin said he wants a genuine review and discussion on the deal.
However, he told the Dáil that his party would not accept "artificial deadlines".
Following yesterday's third and final Budget under the current Confidence and Supply Agreement, Mr Varadkar and Mr Martin spoke by phone about a process to extend the deal.
This morning, Mr Martin said he does not see the talks being completed by this time.
Speaking during Budget statements in the Dáil this evening, Mr Martin accused the Taoiseach of having "spent much of this year trying to create an instability which would allow him to collapse his own Government".
He also said he told Mr Varadkar last night he would continue to honour the agreement and would enter a review of the arrangement.
Mr Martin said the review of the Confidence and Supply deal would not affect Brexit negotiations.
Speaking on RTÉ’s Morning Ireland, Mr Martin also said he does not think an election this year would be a good idea.
He said there was no reason why there needed to be instability around the agreement, but a detailed review was needed before both sides could decide if an extension is what they both want.
He said Fianna Fáil had honoured the agreement over the past three years and that should be taken as evidence of the party's genuine commitment to getting a review done properly.
Mr Martin said the talks needed to be conducted professionally and in a proper way and he did not see the need for an election at all.
Minister for Education Richard Bruton has said the Government was "not at all" tempted to call a general election in the near future.
Also speaking on Morning Ireland, Mr Bruton said the Taoiseach always flagged that he wanted this Confidence and Supply Agreement with Fianna Fáil to last until 2020.
He said in light of Brexit, it was important in the country's interest to have stability on the economic planning front and having a Confidence and Supply Agreement in place.
Mr Bruton said the Taoiseach is right to want to have this done as quickly as possible, but both parties have to come together and they have to be respected.