"There's a good chance of that happening," a source said Saturday.
Hobbs, 27, is expected to undergo neck surgery next week for the second time in a year.
One source said that if Hobbs had to make a decision today, he would retire. But Hobbs will have the entire offseason to think it over and he has been advised to take his time and not make any rash decisions.
Hobbs suffered a neck injury in Week 11 in a helmet-to-helmet collision with New York Giants defensive lineman Dave Tollefson on a second-half kickoff that left Hobbs laying on the field for 11 minutes before being carried off on a stretcher.
Last year, Hobbs missed the final nine games of the season with a neck injury that required his first neck surgery.
He began this season as the starter but recently lost his job to Dimitri Patterson.
The Eagles signed cornerback Brandon Hughes off the Giants' practice squad to replace Hobbs.
Adam Schefter is ESPN's NFL Insider. Information from The Associated Press was used in this report.