Tudgay, who sees his current deal expire later this month, has been offered a new contract at the City Ground and he has offers from three other Championship clubs on the table.
The 30-year-old admits he has a tough decision to make about whether to stay at Forest or move on for a new challenge.
"This is a really tough decision. I have really enjoyed playing for Nottingham Forest, where the fans have been great to me," Tudgay told Sky Sports.
"On top of this the manager who signed me is back in charge and I believe the club will do really well next season under him."
Tudgay admits it is pleasing to be the subject of interest of other clubs and that he is keeping all his options open.
"It always feels good when other clubs show interest," added Tudgay. "I have been offered longer contracts by all three but need to have a good think about everything over the next day or two."
Tudgay's agent, Darryl Powell of Paramount Sports Management, admits the striker has a lot to consider as he looks to decide where to continue his career.
"There is a lot for Marcus to consider over the next couple of days, but whatever he decides and wherever he is playing he will do so in his customary way, which is 100% committed," Powell told Sky Sports.