Hughes guided the Potters to a ninth-place Premier League finish in his maiden season at the Britannia Stadium last term - their highest placing in the top tier in 39 years.
The Welshman arrived at the club on the back of mixed spells with Queens Park Rangers and Manchester City respectively, and the 50-year-old is grateful to the club's owners for showing faith in him.
"I've had no conversations to that end," he told reporters. "It was reported last week that there may be talks in the future. I hope so.
"It's a great club. My star had faded somewhat when I arrived. The Coates family [the club's owners] showed faith in my ability and I'm very grateful.
"I would like to think that I repaid them a little bit last season with what we achieved together and we would love to build upon that. This is a place I enjoy being at."
Hughes returns to Loftus Road this Saturday to face former club QPR.