Mahamutsa joined Stars on a short term-deal in December last year, after he was clubless for more than six months following his release from Orlando Pirates at the end of last season.
The 35-year-old defensive hardman started 15 Absa Premiership matches and scored once, slotting home a free kick against his former foes Kaizer Chiefs at the FNB Stadium in February, but that proved in vain as Amakhosi won 3-1.
The veteran centre-back, who made his PSL debut for Bucs back in 2009, says he is currently in discussions with Stars ove the possibility of staying with them for the 2017/18 season.
"When I came to the club i signed a short-term deal until the end of the [2016/17] season," Mahamutsa confirms to KickOff.com.
"We are currently negotiating and I can't yet say if our talks are positive or not, but certainly I would love to remain at the club, so we we'll see how it goes."
Stars are still expected to sever ties with head coach Serame Letsoaka after the club ended 14th on the log standings, narrowly escaping relegation on the final day of this past season.