Antonio did make three appearances for Jamaica at the Concacaf Gold Cup this summer and also turned out for West Ham Under-21s in a pre-season game at Boreham Wood last month.
It is understood the continuing discussions with Antonio could potentially lead to a coaching and mentoring role within West Ham’s academy.
“Michail will always be a much-loved and respected member of the West Ham United family,” a statement said.
“As has been the case since December, the club will continue to support and assist him in his ongoing rehabilitation, offering him access to training, facilities and medical care if needed.”
A £7m signing from Nottingham Forest in 2015, Antonio is West Ham’s record Premier League scorer with 68 goals in 268 top-flight matches.
He was named Hammer of the Year during West Ham’s first season at London Stadium in 2016-17.