Ablett still has two years to run on the five-year contract he signed with the Suns in 2011 and wants to play out his career with the club in the hope of leading it to a premiership.
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"I've still got two years. I'm sure throughout this year I'll be talking to the club and we'll be going through that negotiation process," he told AFL.com.au.
Ablett took out his second Brownlow Medal last season after winning in 2009 for Geelong, and has won three consecutive best and fairest awards at the Suns following two in his time with the Cats.
The dual premiership player is widely considered the best player in the game and been selected as an All Australian seven times.
Ablett will turn 30 in May this season but shows no signs of slowing down as a midfielder, as well as having the capacity to be a brilliant forward, kicking 26 and 28 goals in the past two seasons respectively.
The Suns have an exciting bunch of young midfielders, including 2013 NAB Rising Star Award winner Jaeger O'Meara, Harley Bennell, Jack Martin, Dion Prestia and Andrew Swallow.
Ablett acknowledged that Martin, who will make his debut this season, was an exciting talent but tempered his praise by saying the club had realistic expectations for him.
"There is a lot of expectations externally for him this year but internally we just want him to do his job and play his role.
"I'm sure there are going to be some games he will dominate this year and there will also be some games where he will be a little bit quieter."
Ablett said midfield depth was one of the Suns' strengths, and they now needed their key position players to perform.
"I think for us some of those key position players … really need to stand up this year.
"They have had two or three years of footy now.
"A few of them have had injuries in the last couple of years, which has been unfortunate, but they will get their opportunity this year."
Tom Lynch and Charlie Dixon both missed chunks of football last season but the club has high hopes they will perform well, while it needs Zac Smith to return to his early form when he returns from a knee reconstruction.
"Hopefully they can stand up and as midfielders we can get the ball inside 50 forward for them to give them a chance," Ablett said.
Many believe the Suns are on the up after eight wins in 2013, however six of the victories came against bottom-four teams in St Kilda, Melbourne, the Western Bulldogs and Greater Western Sydney.
Is Ablett thinking finals?
"It would be good without a doubt, [but] it is not something we are thinking about too much yet. The season is about to start and we are focused on Richmond."