"I have not decided what I'm going to do," Holmstrom told the Detroit Free Press.
The 39-year-old forward became a free agent on July 1 after scoring 11 goals in 74 regular-season games last season. He has played his entire career of 1,026 games with the Red Wings and said he will not try to sign with another team.
"Wings it is," Holmstrom told the newspaper's website.
The report says Holmstrom's family wants him to continue playing. Earlier this summer, Holmstrom said he was working out with the possibility of returning.
Henrik Zetterberg spoke to Holmstrom recently, according to the Detroit News.
"He's still thinking (about his decision)," Zetterberg said. "He's in great shape last time I saw him."