Assaidi did not start a Premier League game in his first year at Anfield but has been a success during a season-long loan at Stoke, the pick of his five goals a winner against Chelsea in December.
Hughes has made no secret of his wish to sign the winger full-time this summer, but talks have not yet got past the preliminary stage.
"He's done really well, and we've been really pleased with what he's produced," Hughes said.
"At the end of the day it will be determined to a certain extent by Ossie himself, but more by Liverpool. They hold the cards, to be perfectly honest.
"We'd love to be in a position to be a good option for him. I think we are in terms of where his football is and the enjoyment of his work. He likes being here and I think that's shown in what he's produced for us.
"We'd like to make it happen, but we're only in the initial stages of discussion at the moment."
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