Solano, who had said that he intended to retire at the end of the season, told BBC Radio Humberside: "Probably one more season and that's it.
"I am very happy and glad to be here, and we will have to see what happens."
Solano signed for Hull on a free transfer in July 2010, being reunited with his former Leicester City boss Nigel Pearson.
Source: BBC Sport
Source: BBC Sport