Since joining the Toffees in 2007, Baines has established himself as the club's senior left-back, with 403 appearances being made in all competitions.
However, Baines turns 34 in December and while Silva has described the former England international as "fantastic", the new boss has indicated that he is looking to strengthen in that position.
The Portuguese told the Liverpool Echo: "We have a fantastic left-back in our squad. Leighton will give fantastic things and do good things for us in the future but we will try.
"We have some young players to analyse as well and see what we will do – whether we work with our young players or do something in the market."