Rangers re-signed their former captain on a half-season loan from Southampton in January.
But it hasn't been a fairytale return for a player who has often struggled in Steven Gerrard's first XI, sometimes being benched entirely.
The 34-year-old has looked in fine form in recent weeks, but there are still question marks over his consistency.
And although former Scotland international Black claims that Davis is an 'phenomenal' role model for the younger Rangers stars, he's unsure whether he'll be sticking around at Ibrox.
He told the Scottish Sun: “I don’t know the ins and outs of what’s happened at Rangers. But Steven Davis can be very proud of everything he has done and how he conducts himself.
"Whether he will still be there next season, I don’t know.
“But he is a phenomenal example to younger players. Every day at Southampton he was the first one to do the exercises in the gym. He would be the first out to the training pitch and the last one off.”
Davis is earning around £12,000 per week in Glasgow [Belfast Telegraph]. It isn't huge money, but it's hardly peanuts either and the question is, is he going to earn his money long term? Is he going to be a big player for Gerrard going forward? Based on his performances this season, potentially not.