The Croatia international has the option to remain in Germany for at least another 12 months, but has previously admitted to being tempted by the prospect of a Premier League challenge.
Stoke have led the chase for his signature and have held tentative talks regarding a deal for the 34-year-old striker.
Olic admits he is yet to decide what the summer will hold, but is keeping his options open as interest in his services builds steadily.
He told Jutarnji list: "As I have said before, Wolfsburg have offered me a new contract which is for one year and then another optional year. The money is great but I haven't made a decision yet.
"I have also got an offer from Stoke. I talked with the manager and president of that club and I saw that they really want me.
"I must admit, playing another year against the likes of Liverpool, Chelsea and Manchester United sounds good to me.
"So I will stay at Wolfsburg or I will move to Stoke. But at the moment I don't know which. Maybe there will be other offers. I'm calm at the moment and soon I will make a decision."