Wondolowski, 37, was set to call time on his soccer career after the 2020 campaign but said he is now considering his options.
"I was pretty set on this being my last year and I want to put everything I have into this being my last year, but I can honestly say I am going to re-evaluate at the end," he told Taylor Twellman on ESPN's Banter show.
"I didn't think I was going to do that at the beginning of this year. Even four months ago I don't think I was going to re-evaluate but just right now, I think I might re-evaluate at the end.
"But, I'm pretty content on this being my last year, I do want to say that."
The forward signed a one-year contract with San Jose in October and broke Landon Donovan's all-time MLS goal-scoring record last year.
Wondolowski was selected in the fourth round of the 2005 MLS Supplemental Draft, 89th overall out of 96 players selected.
He helped Houston Dynamo win two MLS Cups in 2006 and 2007 before being traded to San Jose in 2009 where he has remained a key figure.
Wondolowski won the Golden Boot in 2010 and 2012, and claimed the league MVP award during San Jose's Supporters' Shield-winning campaign in 2012. He was named in the league's Best XI three times, and is a five-time MLS All-Star.
When asked about the achievement, Wondolowski replied: "[I'm] enjoying it. This whole pandemic makes me think a little bit.
"There was a time where I was dying just to want to be out of practise and now I get to play a game and definitely being at this point of my career, I'm just relishing every minute I get out there.
"It is pretty fun and it's a fun group as well."
Wondolowski made 35 appearances for the United States men's national team, scored 11 goals and represented the country at the 2014 World Cup.