The Toronto native was drafted fourth-overall by the Panthers in 2001 and has played 637 regular-season games with the club, and only seven playoff games, which took place last season.
Panthers GM Dale Tallon will make every effort to sign him to a long-term contract extension, but the belief within the league is that he's more interested in weighing his options this summer.
If the two sides aren't able to come to terms on a new contract, and the Panthers find themselves far back of a playoff spot come the end of March, Tallon might explore the possibility of trading Weiss closer to the trade deadline.
In 80 games with the Panthers last season, Weiss registered 20 goals and 37 assists for 57 points.
Several teams, including the Maple Leafs, Anaheim Ducks, Chicago Blackhawks and Detroit Red Wings, among others, are looking for help up the middle and could target Weiss either through trade or via free agency.
Weiss, whom the Panthers have received inquiries about over the last few seasons, has accumulated 144 goals and 246 assists for 390 points over his career.