The midfielder, who was handed the captain's armband by new manager Jack Ross at the start of the season, will see his current deal extended by one year after triggering an appearance-related clause in his contract.
Donald announced the news in a tweet to a supporter, who had quizzed the club's chairman regarding the latest on contract talks.
The Black Cats are keen to see Josh Maja, Denver Hume, Lynden Gooch and Max Stryjek agree new deals, with their current contracts set to expire at the end of the current season.
And while it was confirmed that the club had presented the youngsters with offers, none have committed their futures as of yet.
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That could change in the next week, however - according to Donald.
"George - automatically got another year due to games played," posted the Sunderland chief.
"I expect we will give the fans an update on the other youngsters in the next 7 days or so."
Sunderland remain hopeful of tying all four players to new deals, although there has plenty of speculation surrounding Maja in recent weeks.
As reported by the Echo this morning, Championship clubs are starting to firm-up their interest in the teenager after his goal-laden start to the campaign.
Millwall, Middlesbrough and Bristol City have all been linked with the 19-year-old, while Premier League duo Tottenham and Manchester City have also been credited with an interest.
Honeyman, too, was linked with a move to Sheffield United - but Donald's update may put those rumours to bed ahead of January transfer window.