The 36-year-old said prior to last Sunday's game versus Novara that it would be his last match for the Rossoneri, and reports from Brazil had suggested that he was on the verge of joining Botafogo.
However, Seedorf appears to have made a U-turn on his decision and could now remain at the 2010-11 Serie A champions.
"I do not rule anything out, not even staying at Milan. I am taking a week to think about it and make a decision calmly. I will definitely not retire, though. I want to play for two or three more years," the Dutchman stated to La7.
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Seedorf's contract with Milan is due to expire in June. He joined the Rossoneri in 2002 after previous stints with Inter, Real Madrid, Sampdoria and Ajax.