Chief mediator Oscar Arias asked for a 72-hour extension and warned of civil war after talks broke down Sunday.
The head of the regional group is 'optimistic' about the next round of talks, set for Saturday.
Costa Rican President Oscar Arias says he is 'determined to have a resolution,' but that it may take some time.
President Hugo Chávez, an avowed socialist and critic of the United States, has emerged in the unlikely role as the leading champion of democracy for Honduras.
US backs Costa Rica's Arias to mediate the crisis, wary of being seen as interfering in the region – as it has in the past.
Ousted President Manuel Zelaya is set to arrive back in the country Sunday, a move some say could provoke violence.
Unrest has also erupted in Guatemala and Nicaragua in the past year, and the region is dealing with powerful organized crime and drug traffickers.
Interim President Roberto Micheletti vows to have ousted President Manuel Zelaya arrested if he returns Thursday. Hondurans are concerned about foreign intervention.