Head is second in terms of runs scored this season in the Big Bash League, with 276 at an average of 55.2 and a staggering strike-rate of 158.62.
The 22-year-old hard-hitting left-hander has struck 20 sixes across his seven innings, a tally eclipsed only by top-scorer Chris Lynn, who has been retained by Kolkata.
There was some confusion around Head's prospects in Delhi Daredevils when the franchise announced its list of players released and retained late last month.
According to Sydney Morning Herald, Head was shocked to learn of his retention in the aftermath of his unbeaten 101 against the Sydney Sixers, having been formally notified by the Daredevils he would be released and would therefore be eligible to enter the auction on February 6.