Taarabt has been strongly linked with a move away from Loftus Road recently but the arrival of Hughes seems to have changed the Moroccan's mind.
"I think if Mark Hughes was not coming in maybe I was leaving in January," said the 22-year-old.
"I spoke with the chairman and the situation now has changed. They want to keep me and we're going to have a discussion when we come back."
Taarabt is currently with the Morocco squad for the Africa Cup of Nations.