The current Lobos BUAP player indicated last month that this could be his last season as a professional, saying he wanted to spend more time with his children and prepare himself for a career in coaching by traveling to Europe.
But Hebert Alferez, Blanco's teammate at Lobos BUAP, believes the former America player could continue into next season.
"He wants to retire in the first division," said Alferez in quotes published by MedioTiempo.com. "I spoke to him and he said that if we go up he would play on."
"I hope we can do it so that his retirement would be as he would like because he deserves that and more," added Alferez.
Blanco celebrated his birthday with Lobos BUAP teammates and was presented with a cake ahead of Friday's game against Atletico San Luis.
The three-time World Cup veteran's former coach Manuel Lapuente was delighted that Blanco is still lacing up the cleats and added that he had advised him not to retire.
"One of the bits of advice I gave him is, 'Don't retire until your legs fall off you,' and Cuauhtemoc has carried it out perfectly," Lapuente said on MedioTiempo.com. "(He is) one of the best Mexicans, if not the best."