The 30-year-old impressed during his two loan spells at Goodison Park and it is understood that the Toffees have asked him to return to the club in January.
However, the USA international has admitted that he will take time to evaluate his future in the game.
"Right now, I need time to think and that is impossible to achieve while I am playing. I need to determine if I want to play, and if the answer is yes, I need to work out where and for how long," he told ESPN.
"I plan to spend a lot of time travelling to distant places, alone. I am not sure where. I want to take time to have some freedom and not worry about my next game or being fit. It may take me two weeks, two months or a year.
"I don't plan on worrying about the end result. I want to focus on being present and making the decision when I am ready. I am at a point where I realise that if I am to come back I need to do so with the right mindset."
Donovan has scored 49 goals in 144 games for his country.