While only time will tell whether that decision will be the right one, Sainz has set about trying to woo potential suitors in the hopes of obtaining another full-time seat on the F1 grid.
He has had a stunning start to the 2024 season, claiming victory at the Australian Grand Prix alongside two other podium finishes, and sitting fifth in the drivers' championship despite having missed a race through appendicitis surgery.
Sainz in talks with shock team
It had been thought that the most viable option for the Spaniard would be Mercedes, in a straight swap to replace the outgoing Hamilton.
However, Mercedes seem hell-bent on trying to hire the services of world champion Max Verstappen, or waiting for teenage sensation Kimi Andrea Antonelli to fill their vacant seat in the long-term.
At 29 years old, Sainz wants another long-term deal himself, as he looks to push for more race victories and potentially even a championship challenge before his career is over.
Now, it has been suggested that the up-and-coming Williams team could be one of the favourites to sign Sainz, in what would be a shock move for the Spaniard.
Autosport have reported that Sainz is currently engaging in talks with the Grove-based outfit, who have recently managed to tie star driver Alex Albon down to a new contract.
A driver partnership of Albon and Sainz would be enough to put fear into any of their competitors, despite the team's clear struggles in 2024 that have seen them yet to score a single point in the first seven events of the season.
Speaking to media ahead of the Monaco GP weekend, Sainz said: “Behind the scenes I know more. You have the rumours and everything, but don't worry, I'm not going to let slip anything.
“I'm going to just put all the options on the table and make the right decision. I can just tell you that, once I open my mind up, everything will happen very quickly. It's all about putting everything together that I feel like I need on my next new contract.”