The 39-year-old free agent has been skating with members of the Rangers over the past week but remains without a contract. There has been interest from other teams, but Shanahan wants to re-sign with the Rangers.
"We're continuing to have discussions with the Rangers with the hope of Brendan being able to play there," Shanahan's agent Rick Curran told ESPN.com on Tuesday evening. "Unless and until that changes, we're not interested in talking to anybody else right now."
The Rangers have little room under the $56.7-million salary cap, which currently makes it difficult for them to give Shanahan a new deal.
"My agent is presently talking with [Rangers GM] Glen [Sather]," Shanahan told the Journal News on Tuesday. "I've made it clear to him that this is obviously the team I want to play on this season, and he's talking to Glen right now. I've been optimistic throughout the summer that I was going to be part of the Rangers. I've kept in touch with Glen. He's kept that door open and I've kept that door open. ...
"And here we are now, coming down to it. It's not like we had a whole lot of decisions to make."
The Rangers open training camp next Tuesday with physicals. On-ice sessions start the next day.
"He'd like to come back and play another year," Curran said. "He knows he can play hockey this year. He's very comfortable and confident with what he'll be able to do. "
Added Curran: "Brendan's position has always been the same. His intent and his objective was to come back and to play with the Rangers. We continue to be patient and wait until hopefully things can fall into place."
Shanahan had 23 goals and 23 assists in 73 games last season, his second with the Rangers.
The Rangers, meanwhile, are believed to be among eight teams still interested in free-agent center Mats Sundin, who continues to mull over his future. The longtime Toronto Maple Leafs captain may take another few weeks, if not months, before making a decision on his future.
Pierre LeBrun covers the NHL for ESPN.com.