The stand-in Toon boss has ordered the whole squad to report to the training ground for two days after the end of the season.
Shearer's eight-week contract is due to expire on Monday but he has made it clear to his players he expects to see them then and again on Tuesday - whether Newcastle stay up or not.
A club insider told The Sun: "Alan has said everyone must be in and, although he hasn't said why, it seems to mean he is staying on.
"A lot of the players think he will definitely stay if Newcastle go down because he will feel a responsibility to get them back up again, whereas if they survive Shearer could still walk away saying he has done his job.
"But all the indications are that he is in it for the long term provided he gets money to spend in the summer. Nobody expects Joe Kinnear to be back in charge."