The 31-year-old's contract expires in June and after the departure of Kyle Walker, Kevin De Bruyne, Ederson and Ilkay Gündogan in recent years it looks likely that Silva may leave when the season ends.
Silva said that his mind his made up in a recent interview ahead of his sides’ clash with Monaco in the Champions League.
"I know exactly what I'm going to do but it's not the time to talk about it. It's time to focus on Man City, to try to do my best to try to put the club back where it belongs," he said on his return to former club Monaco.
"We know that we've had a lot of captains who have left in the past but it's the guys who have the most experience to pass it to the young guys and hopefully they will be the next ones to pass that experience. I'm focused on doing a proper season with Man City and doing as well as possible to perform and bring back the team to the level it deserves to be.
"My job now is to try to create that energy and chemistry back as a group of captains, so people behave in the right way in training and games, arrive early, train properly, take care of themselves.”
After being named the captain following the departure of Kevin De Bruyne, Silva is clearly focused on leading the side in what may be his final campaign with the side.
The Portuguese international is now the senior-most player in the City squad in terms of games played for the club and him departing would be an end of an era for the side.