Forster will get the chance to show what he can do again in Newcastle colours in United's pre-season friendlies this summer and is likely to return to Carrow Road in time for the start of City's tilt at the Championship.
Hughton told the Evening Chronicle: "Norwich is a very good option for Fraser, but I expect him to have a few and there are decisions to be made.
"His progress in the last 12 months has been fantastic and, as with all players, you look to see development each season.
"His stats at Norwich last season speak volumes for just how well he's been doing.
"And for me it was no surprise to see him pick up such a good accolade. He deserves all the praise he gets after a great season."