However, the 37-year-old deems himself to be ''fit enough to play for another three years'', but he said a fulfilling series and an Ashes victory could be enough to push to hang his boots.
''It's going to be a question that's asked a lot through the summer,'' Shane Warne was quoted as saying by the Herald Sun.
''Is this your last series in Australia? Is this your last Ashes series? ''Those questions, when you get to a certain age and have played for 15 years, always come up. You can't really avoid it.
''I haven't thought, 'If we win, I am retiring. If we lose, I am going to keep playing'. But, who knows. Say I take another 40 wickets this series and score 250 runs, and we win the series, then there mightn't be a better way to go out,'' the highest wicket taker in the history of Test cricket said.
Warne was a stand-out in Australia's Ashes defeat last year.
However, he maintained that he would not follow Steve Waugh's example and officially announce his retirement before the Ashes series begins.
''I wouldn't be one of those guys that retire at the start of the summer and say 'this is it' and at every ground have a farewell. I wouldn't do that,'' he said.
''When my time is up, my time is up. I might just say before my last Test that this is it,'' said the veteran of 140 Tests.
Warne has just completed an arduous boot camp with his Australia teammates in north Queensland and will return to England tonight to complete the county season with Hampshire.