The Denmark international is regarded as one of the Bundesliga's brightest talents, but he has been struggling to break into Pep Guardiola's starting line-up.
The 19-year-old has played just 87 minutes in the German top flight so far this season and he is considering leaving the club on a temporary basis during the winter break.
"I have been part of the first team for one-and-a-half year now," Hojbjerg was quoted as saying by TZ.
"I have to start thinking about whether it would be good for my development to not just train, but play regularly as well.
"I have promised Denmark coach Morten Olsen that I will get regular first-team action from January 1 on. I often get some playing time, but I need to play 90 minutes week in, week out."
Hojbjerg has a contract with Bayern until the summer of 2016.