Scolari set to leave Bunyodkor
Scolari said the club wanted to reduce costs and had suggested cutting short his contract, which was due to run until December.
"If we reach an agreement, I'll will be free to decide my future," Scolari said in a telephone interview from Tashkent.
"If it's Europe, it will have to be a good club, not one where we're fighting to finish fourth but one where we can challenge for titles."
"Or, I can go back to Brazil. I've been away for seven years," added Scolari, who won the 2002 World Cup with Brazil and led Portugal to the Euro 2004 final and the 2006 World Cup semi-finals.
Scolari joined Bunyodkor one year ago, saying he had been attracted by the project which included trying to raise the standard of the game in the Central Asian country.
He joined forces with Rivaldo, Brazil's playmaker from the 2002 World Cup team who is still at the club.