The former England coach was spotted in Wolfsburg last Thursday and Friday meeting with club officials, but left without committing himself to a contract.
"I don't want to say anything yet because that would not be good for the situation," he told the WAZ on Saturday.
"I will say in the next few days what I will do next season."
McClaren spent the weekend in England, where he was believed to be mulling over Wolfsburg's offer before announcing his decision this week.
"If it were up to us, then things would be tied up very quickly," commented Wolfsburg's managing director Dieter Hoeness after his side's final Bundesliga game of the season on Saturday.