The 28-year-old Nigerian has been at the Foxes since 13 January and insists he is happy at the Championship club.
He told BBC Radio Leicester, "I think I've had enough (at Everton) and I have to look for somewhere to go - I would love to stay (at Leicester).
"Hopefully I can settle things there and come back. If I could come and play for Leicester that would be great."
Yakubu has scored 10 goals in 19 appearances for Sven-Goran Eriksson's side in a four-month loan spell.
He moved to Everton from Middlesbrough for a club record £11.25m in August 2007.
"I had a great time at Everton but I think I have to move on," he explained. "I've had a great four months (at Leicester) and my season has been really good.
"It feels like home and I feel like I've been here for three or four years - I'm enjoying it.
"The players and the fans have been really nice to me and hopefully I will see them again."
And Yakubu insists he would be happy to ply his trade in the Championship next season after the Foxes missed out on a play-off spot.
"In the end we are disappointed not to get to the play-offs or get to the Premier League," he continued. "But hopefully next season the manager is going to bring in more players and I think we are going to be better than this season."
The Nigeria international added that he has not been fazed by being used as a substitute by Eriksson in some games.
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