In a story in Friday's Green Bay Press-Gazette, Favre said that he told general manager Ted Thompson and head coach Mike McCarthy earlier this week that he may have a decision by the weekend or early next week.
"I want to do what's best, obviously, for me and my family," he told the Press-Gazette. "But regardless of what people might think, I don't want to jeopardize the future of the team. I don't want to do that. I think that the people that know me, including those in the organization, know that."
Favre said he wouldn't want to play for anyone but the Packers, who finished 4-12 last season, Favre's only losing one in Green Bay.
Favre still feels he can play but said last season did rattle his confidence a bit.
"I had a lot of chances to pull us out of the fire last year and I didn't do it," he said.
Favre said he wouldn't return just to collect his $10 million salary or to try to break more records. If that were the case, he said, he already would have made his decision.
"That's sort of my dilemma right now. If I felt like we really could compete for the Super Bowl, I would come back. Or am I coming back just to play and to have fun, and in the process maybe we lose," he said. "Last year was no fun for the fans or for the players, and nobody wants to go through that again."
Favre also said that he's concerned about the status of the offensive line. The Packers lost veteran center Mike Flanagan through free agency this off-season. The interior of the line may be completely different than last year and in the first season of a new zone-blocking scheme.
"Of course, I don't want to get beat up, but we've got a new offense going in, so players like (guard) Will Whitticker are starting all over. It's like he's a rookie again. He's got great potential, but it's going to be different for him. Scott Wells may have to move to center full time. I think he's a fine player, guard or center, but at some point you ask yourself, 'Who are you replacing guys with?' From a coach's standpoint you have to say the right things, that we'll be competitive and we'll win, and I truly believe Mik eMcCarthy will do a fine job. But really, what have we done to replace the guys that we've lost on the line?"