The former Manchester City chief's current contract at Craven Cottage expires at the end of next season.
'I have no influence on when talks could start about a new contract,' said Hughes. 'That would have to comefrom the club, not me. But I'd like those type of conversations if I'm perfectly honest.
Then and now: Hughes patrols the touchline at Craven Cottage (left) and appeals during his Bayern pomp
'If the club feel I'm doing a good a job and that's what they want to do then I'm open to it.' On the prospect of a return to Munich, Hughes added: 'The reports were flattering but I'm happy doing what I'm doing at the moment.
'It shows how fickle football is. It was only a couple of months ago I was being tipped for the sack and now I'm being linked with one of the biggest jobs in Europe.'
Dickson Etuhu returned to training yesterday after recovering from a hamstring strain but Steve Sidwell will miss Saturday's clash against Everton with a knee injury.
Meanwhile, Hughes will let Diomansy Kamara decide if he wants to move to Leicester, who are interested in signing the striker on loan.
Jacko statue is not Wacko! Hughes defends Fulham's controversial plansBayern Munich line up shock move for old boy Hughes to replace Van GaalKamara set for Leicester as Sven admits club are in talks over loan move All the latest Fulham news, features and opinion
Explore more:People: Louis Van Gaal, Mark Hughes Places: Munich, Europe