The 36-year-old is having his best season in years. He said Wednesday that "I just want to have one more shot to go to the World Series before I [retire]."
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Soriano has two years remaining on his contract and says he will consider walking away when the deal is up.
The Cubs lost 100 games for the first time since 1966. Depending on how long they expect the rebuilding process to take, Soriano is not opposed to staying.
He is slated to make $18 million each of the next two seasons. Soriano hit 32 home runs with a career-high 108 RBI this season.
He has two World Series appearances with the New York Yankees in 2001 and 2003, but has not won a championship.