Rhodes joined Blackburn last summer for £8million from Huddersfield, and he has lived up to his price-tag with 29 goals - which have proved invaluable to the Lancashire outfit.
The Scottish international is being linked with a move to the Premier League this summer, but he says he would like to help Rovers back to the top-flight.
Rhodes said: "It would be nice to bounce back up with this club. This is a Premier League club.
"It's just a shame this year we have not given ourselves a proper chance.
"There's not that much we need to tweak. We let in too many goals from 85 minutes onwards and should be 10 or 15 points better off.
"Being in the bottom three wasn't nice. But we showed terrific character.
"When the going got tough a lot of people stepped up and got us out of trouble."
Rhodes would not be drawn on whether he though current caretaker Gary Bowyer was the best man to take charge full-time.
"It is not for me to say who the next manager should be. But we will do our best for him, whoever it is," he said.