The 34-year-old had a successful loan spell at Elland Road last season, scoring six goals in 14 appearances, and is available for transfer from Crystal Palace.
It had been thought that Freedman would take up a coaching role at the end of this season, but he confirmed: "I'm taking the decision that I will play as long as I can. I will be leaving Crystal Palace.
"I've been offered a coaching role but I want to play, so that's my situation. What comes out of Leeds I can't really control.
"I'm looking for a challenge and it has got to be the right deal, with the right club, with the right manager, and the club has to be challenging (for honours).
"I will then move my family to go and play some football. If the right deal comes up I will look forward to that.
"Ken Bates controls his club and I do think he's right that he's got to look at youth and I cannot agree with him more, and if that's the way he wants to go then fine, that's not a problem.
"But I haven't spoken to anyone representing Leeds at all since the play-off final."