The 30-year-old's current deal at Fir Park is due to expire at the end of the season.
"I'm settled here, I'm happy here and I wouldn't rule out staying. When the chance comes to speak to the manager and the chief executive I'll do that," McFadden told the Daily Record.
"The biggest thing for me is enjoyment. I'm enjoying my football and we will see where it takes me."
McFadden, who has scored five goals in 27 games this season, joined Motherwell on a free transfer from Sunderland in February 2013.