Knowles's term as joint chief executive is due to end in December, when his re-election will be put to a partner vote.
It is understood that Knowles, who has kept a firm grip on DLA's leadership, driving the its strategy of aggressive international expansion, will stand unopposed.
Until this year the firm had three joint chief executives, before a management shake-up in June reduced that number to two. Chicago-based CEO Lee Miller runs DLA Piper's US operation, while Baltimore-based Francis Birch stood down as CEO to take over as global chairman from George Mitchell.
Knowles has been the firm's UK head since 1996 and oversaw the transatlantic merger with Gray Cary Ware & Freidenrich and Piper Rudnick in 2005.
Earlier in the year, DLA Piper became the latest firm to break the $2bn (£1.01bn) mark for global revenue in the 2007 calendar year.
Revenue of $2.1bn (£1.07bn) includes income from Europe, the Middle East, Africa and US, although these continue to operate as separate profit pools.
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