The 27-year-old is on loan at Leeds but could even stay at Middlesbrough beyond the summer.
Indeed, the wide man currently finds himself on loan at Leeds United and scored on his Elland Road debut in the FA Cup against Rotherham on Saturday.
But Carayol has the option to extend his contract should both he and Middlesbrough wish this summer.
The United loanee told the BBC: "I've still got a year with an option to extend another year. It's up to both me and the club.
"I'm still a Middlesbrough player and I hope they go up."
If the 27-year-old's Leeds debut is anything to go by, he could well have a bright future at Elland Road.
Fans will be wary of a flash-in-the-pan performance, of course, but Carayol's bond with Steve Evans should give him an advantage when it comes to his United career.
If Middlesbrough do go up, the winger might fancy a chance of playing in the Premier League. But promotion would likely have an adverse effect on his first-team chances at the Riverside Stadium. If Carayol can continue to deliver beyond his debut, Leeds could be the perfect fit for the wide man - just as he could prove the perfect fit for the Whites.