The former Preston manager has been at the club for 11 years but his current deal is set to expire in the summer, with Chelsea rumoured to be interested in his services.
"I want what's best for Everton and if people say it is best for Everton that I stay, then I would agree," he told reporters, "but I have to make sure Everton have the best opportunity to try and continue where they are, and push on from where they are.
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"I know what we are capable of - we have a really good squad, a small squad but one that is getting older and we need to replace that and change it around.
"Everybody knows that a decision will be made at the end of the season and that will be the time because we will see where we finish and where we go. I wouldn't have thought that would be too much to ask for, really. I wouldn't have thought that was a bad request, as I’ve been here 11 years.
"A sabbatical is not in my thoughts, I either stay or go to another job. They are the options I'll consider but I am not planning to have time out.
"It may be that I'll be in a position where I am out of work if I chose not to stay here at Everton, because I do not have a job to go to - there is nothing lined up."