The winger's Sheffield Wednesday deal expires in June.
Matias is in the final year of his contract at Hillsborough and it is unclear at this stage whether a new one will be offered.
The 29-year-old has scored three goals and created one in 14 games for Wednesday this season, but has seen his Owls career beset by injuries.
And asked if a move back to his home country is possible, he told "There is always that possibility.
"It is my country, a league that I love and with which I identify myself.
"Besides, there's nothing like being at home."
Despite Matias' comments, the former Nacional de Madeira player recently dropped a major hint that he wants to remain in Sheffield, opening up a Portuguese patisserie in the city centre.
If you're in #sheffield, check out Lisboa. It's located on St Paul's Parade close to the Peace Gardens, providing visitors with authentic Portuguese drinks and food #swfc #sheffieldbizhour #lisboa pic.twitter.com/IFUEkMTwFy— Matt (@footballtyper) December 9, 2018
That would suggest his future is largely in the hands of Sheffield Wednesday, a club whose financial problems are well-documented.
Matias has played 52 times for the Owls, scoring seven goals and creating five.
Does Matias deserve a new Sheffield Wednesday contract?