The talented Switzerland international forward has spent the last two seasons at the Allianz Arena, with Bayern having prevailed in the scramble for his signature back in 2012.
The 22-year-old faces stiff competition for places at the German champions, though, and was restricted to just 10 Bundesliga starts in the 2013/14 campaign.
Shaqiri acknowledges that he now has a big decision to make, with it possible that he may have to look elsewhere for regular game time.
A man who has been heavily linked with a switch to the Premier League in the past told 20 Minuten: "It's clear that I cannot continue like this. If nothing changes, I will have to make some changes myself.
"I want to play in the important games as well and not just in the Bundesliga. I don't want to go through another year like this.
"I only want to play for a major club. The Champions League is important to me. We will see what happens.
"England would be an option. If I were to leave Bayern, it will be for a foreign club. But it will have to be a club challenging for the title."