The Germany international, who is out of contract next year, will soon make up his mind on his future plans, but has stressed that nothing has been decided as of yet
The 23-year-old has a contract with BVB until the summer of 2015, but the Bundesliga side are keen to extend the German's stay at Signal Iduna Park following reported interest from Manchester United and Real Madrid.
Gundogan - who is still recovering from a back injury - has held off Dortmund's advances so far but he has made it clear that he will soon make up his mind over where his future lies.
"I have not made a final decision yet. BVB are the first team I am talking to," he was quoted as saying by Sport Bild.
"I will soon make a well-thought decision. But I am keeping my options open at this point.
"Borussia Dortmund have not set me an ultimatum. I am just trying to get healthy again and get back to my best form. That's the main priority for BVB and for myself."
Gundogan has made just one Bundesliga appearance so far this term due to his ongoing physical problems.