Peppers and the Panthers saw their postseason aspirations come to an end following a 31-26 loss to the New Orleans Saints in an NFC wild-card game on Sunday.
"I'll talk to my family," the 37-year-old Peppers said after playing in his 18th career postseason game.
Peppers is set to become a free agent in March after registering a team high-tying 11 sacks during his 16th NFL season in 2017. His 154.5 career sacks rank fourth in NFL history and he has recorded more than 10 sacks in 10 different seasons, and had a career-high 14.5 in 2008 for the Panthers.
The 6-foot-7, 287-pound Peppers returned to the franchise with which he started his NFL career with a one-year deal in March.
Peppers played the first eight seasons of his standout career for Carolina and became one of the bigger stars in franchise history. He was NFC Rookie of the Year in 2002, NFL Defensive Player of the Year in 2004 and has recorded 92 of career sacks with the club.
The pass rusher spent three seasons with the Green Bay Packers and totaled 25 sacks. In 2016, he had 8.5 sacks while no longer being a full-time player.
Peppers played for the Chicago Bears from 2010-13 and had 37.5 sacks. He was released after the 2013 season.