The Italian striker joined the Sky Blues from Juventus in September on a two-year deal which is to be revisited at the end of the first season but he has hinted that a longer stay could be an option.
"We have been talking. We are waiting (for) what it (the club) decide...they wait (for) me," said Del Piero. "Everybody is waiting.
"We have discussed things. We have a good relationship, but at the moment we have to think day by day."
Sydney chief executive Tony Pignata added: "We had preliminary discussions a few weeks ago and Ale indicated he was keen to stay.
"But the focus, as you would understand, has been on finding a new coach after Ian (Crook) left and getting the club back on track.
"Now we have appointed Frank Farina (as coach). It will be a matter for the board to sit down and sort out something in regards to Al in the next few weeks."
Del Piero started brilliantly for Sydney by scoring five goals in his first six matches but has failed to hit the back of the net since November 16 with two blank outings and a hamstring injury to contend with.