Asked if he would stay beyond next season, the 33-year-old was quoted as saying by the BBC: “No, this is the last one.
“Ten years for me is enough. It’s the perfect time for me.
“Initially, City were talking about two years, but I decided to sign [for] another one, so I finished at 10 years.
“It completes the cycle. It’s a nice round figure. I can never see myself playing against City for another team. So 10 years — that’s it.”
Silva, who joined City from Valencia in 2010, has won four Premier League titles, two FA Cups and the League Cup four times, making 396 appearances for the club to date.
Capped 125 times by Spain, Silva won the World Cup in 2010 and the European Championship in 2008 and 2012.
He told last year that he would like to end his career playing for Las Palmas, his hometown club on the island of Gran Canaria.