The Jamaican international is one of five Bolton players due to see their contracts expire this summer, the others being Tamir Cohen, Johan Elmander, Robbie Blake, Joey O'Brien and Jlloyd Samuel.
Gardner has spent the last 13 seasons at the Reebok, but after struggling for regular action this term, there has been plenty of speculation suggesting he will be on his way.
But the 32-year-old has played in the last couple of games, with the manager giving him the chance to earn a possible 12-month deal.
Coyle told the Bolton Evening News: "I have given Ricardo that game time to try and be fair to him. He has been an outstanding player for the club.
"Now I have to sit down with him and make a decision. I will take all the emotion out of it and make a football decision."