"We have had transfer interest and we will have some time to think about it and see where it goes," Donovan told Reuters after featuring for the MLS All Stars against Manchester United on Wednesday.
"There is interest from a number of teams."
Donovan, who spent three months on loan at Goodison Park with Everton last season, indicated there had been interest from Italian Serie A clubs, while Manchester City manager Roberto Mancini also said last week that an approach for Donovan was "possible".
However the USA star signed a new contract with the Galaxy last December that runs until 2013 and as the most recognisable face of the sport in the USA, the American league are keen to keep hold of him.
"Landon is an incredibly important part of the American soccer movement and to have him lead MLS after performing on the world stage, is extremely valuable," league commissioner Don Garber explained on Tuesday.
"I am pleased that he renegotiated his deal for several more years and I hope that he will stay here for the rest of his career", Garber added, "but it's not my decision, it's Landon's decision and LA Galaxy's decision."
Money will be no object for Manchester City, should they chose to persue their interest in taking Donovan to Eastlands, while Everton could offer an emotional pull, with the American making a point of stating how much he had enjoyed his brief spell with David Moyes' side.
The MLS All-Stars were beaten 5-2 by a Manchester United side including Ryan Giggs, Paul Scholes and new signing Javier Hernandez, who scored on his debut for the Sir Alex Ferguson's side.
