Reports have suggested that the channel is offering Will as much as £2.5 MILLION to stay with the the show when it moves next year.
However he says the decision to stay put or not will have nothing to do with money.
"I really like the BBC. Not that I don't like ITV, I just never wanted to do television. I didn't have dreams of doing TV," Will admitted this month. "My dream was never to be a TV guy, it was to make music."
Recalling back to the first ever series of The Voice UK in 2012, Will said: "So I got a call from [the BBC] and they said, 'We think you would do good on TV'.
"Fergie wanted to take a break from the Black Eyed Peas, so it was, 'Alright, maybe I'll do it for the first year, because after that Fergie will have a baby and be able to get back on the road'. It's been five years now."
Will is the only coach to have appeared on every series of The Voice UK and told DigitalSpy recently that he liked the "routine" of the BBC show.
"The only reason why I come back to do The Voice, it's not because it's a big payday - it's the BBC! It's not like that," he explained. "I know all the coaches. [US coach] Adam [Levine] is a good friend, and Pharrell. We all do The Voice, but The Voice [in the US] is crazier than The Voice UK as far as what the coaches get.
"But I like the BBC. And it's not about money."
He added: "So I don't know. I haven't made my mind up. It's not like there's a replacement gig at the BBC waiting there for me to decide over - that's hard."
For now, Will remains on the panel for this year's fifth season which you can catch Saturday nights on BBC One.