The 28-year old, who has scored 10 goals in the Scottish Premier League this season, is being linked with a move to either English Championship club Crystal Palace or American Major League Soccer team Houston Dynamo.
His Hibs contract is up at the end of the month and reports suggested that he was a certainty to leave the club but a source close to him told The Scotsman that this may not be the case.
"Nothing has been decided," the source said.
"It's still the case that, as (Hibs boss) Colin (Calderwood) said some time ago, he will talk to Derek after the last game of the season.
"Derek's free to talk to other clubs, obviously, but he's not said he's not staying, and if he had an offer just now he'd tell Colin about it."