Penisini and five-eighth Dylan Brown headline a list of players with decisions to make at the under-fire Eels in the next year, as new coach Jason Ryles prepares to take charge.
As things stand, only Mitch Moses, Zac Lomax and Junior Paulo are officially locked in for 2026.
Five other players - including Penisini - have options built into their contract to stay at the club, which can be activated next season.
It's likely several off-contract Eels may not be retained, as Ryles considers a shake up of the aging squad.
But Penisini is one player they would be desperate to retain.
The 22-year-old been the shining light of Parramatta's junior programs in recent years, and is seen as a long-term star at the club.
In recent months other talent of that junior program has been picked apart, with Blaize Talagi last week opting to sign with Penrith for 2025.
Young half Ethan Sanders has also been lured away by Canberra, while hooker Matt Arthur has permission to talk to other clubs after his father's axing as coach.
Penisini shares a manager with Talagi in Isaac Moses, and there are already questions on whether he will activate the option to stay on for 2026.
Will Penisini (L) celebrates with Blaize Talagi after a try against the Roosters in round 10. (Dan Himbrechts/AAP PHOTOS)
But the centre said no decision would be made on his future until 2025, with Ryles to officially take over and the club's new centre of excellence to open between now and then.
"You base your decision on change," Penisini told AAP.
"They're all good changes. This facility that is going up is going to be amazing. And Rylesy bringing a fresh crew as well. I can't wait for it. I am excited.
"My footy will take care of that decision (too) ... Once that starts to happen and unfold, that decision, I have a while to make it."
Potentially working in Parramatta's favour is that Penisini's younger brother Richard remains contracted until the end of 2026.
Despite the exits, Penisini insists the 16th-placed Eels is not an unhappy club for juniors to be at.
"Obviously there is a lot of change happening at the club and a lot of uncertainty," Penisini said.
"People are making decisions they think are right for themselves. It is what it is. We have a new coach coming and new facility coming.
"There are a lot of other things to look forward to, and a lot of other juniors as well that want to stay here.
"This is a great club. We have a good culture and a lot of older boys with experience teaching the younger boys."
Management changes at Parramatta are guaranteed with chairman Sean McElduff and director Vicki Leaver's maximum stays on the board to expire next year.
The duo will be replaced by independent directors, with appointments made by the nominations committee that itself has an independent chair.
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