Along with fellow Goodison stalwart Phil Jagielka, left-back Baines is going to be out of contract in the summer, and many Blues fans expect both to leave the club.
"It is not decided yet, of course," said the manager.
"When we have a decision about that, they will be the first ones to know.
“I already spoke with Leighton, Jags I will do in the next few days or weeks. Leighton knows what is my idea already, the idea of the club also and it is up to us to talk in the next few days and weeks to speak about this situation.
“They have all the respect of ourselves. They are fully focused on what we want in our desire and our goal as a team. They are there, they are there working really hard for us to achieve what we want because it is the most important thing.
“You are talking about our captain, our sub captain they are really important players and they deserve all our respect."