Renault could become the fourth manufacturer to quit F1 in a year
Renault will reveal by the end of the year whether or not it is staying in Formula 1 after a troubled 2009 season.
The French car company held an emergency board meeting to discuss quitting the sport, but has deferred its decision for the time being.
"You will have to be patient," Renault chief executive Carlos Ghosn told reporters on Thursday.
"We will make an announcement on our participation in Formula 1 before the end of the year."
News of Renault's possible exit comes in the week that Toyota confirmed it was quitting F1, becoming the third manufacturer to leave the sport in the last 11 months.
Renault's emergency board meeting was attended by F1 team bosses Bob Bell and Jean-Francois Caubet, although neither man was allowed to take part in the debate about the team's future.
Renault have had their least competitive F1 season since 2002 and finished eighth out of 10 teams in the constructors' championship after Sunday's final race of the season in Abu Dhabi.
The company came under scrutiny for the team's involvement in the Singapore 2008 race-fixing scandal, in which they decided not to contest charges that they had asked Nelson Piquet Jr to crash to aid team-mate Fernando Alonso's bid for victory.
I believe Renault will continue - Jordan
Motorsport's governing body the FIA gave Renault a ban from F1, suspended for two years, as punishment, while team bosses Flavio Briatore and Pat Symonds were forbidden from attending FIA-sanctioned events.
Last month, Renault signed the highly-rated Polish driver Robert Kubica to lead their team in 2010 as a replacement for double world champion Alonso, who has moved to Ferrari.