The Uruguayan has been a key member of the Tigers' squad since his £4.25m move from Palermo in 2014, scoring 31 goals in 97 appearances.
However, injuries have restricted him to 26 appearances this season, from which he has struck five goals.
When asked by Sky Sports News about whether talks had begun over a new deal, Hernandez said: "No not yet. I haven't talked to the club yet, we haven't had a meeting.
"There were a lot of rumours about China, but the club never got an official offer for me. I'm calm, I have the manager to deal with, so there's nothing else at the moment.
"Now, there's more important things than what's going to happen with my future. I'm thinking about Hull and what I want to do is help Hull stay in the Premier League."
Hull, promoted back to the top flight last May, currently sit two points above the Premier League dropzone with six games remaining.