The quarterback is due to earn $11m (just over £7m) in 2013, but has been plagued with injuries since joining the NFC West side in 2011.
Team president Michael Bidwell told KTAR-AM: "Kevin's contract is probably something we're going to need to address. It's a big number and given the productivity and the questions about durability and everything, that's something that I think the reality is we need to sit down and discuss.
"They're all going to take a look at the quarterbacks that we have and really look at the tape. I know they've been looking at that, they've got a meeting to talk about all the free agents, the people and everything along those lines. But I think it's really, let's take a look at the guys that are on our roster first."
Kolb played six games for the Cardinals in 2013, recording four wins and two losses.