The veteran actor, 67, is the longest-serving member of the soap's cast, having joined in 1988 for the pilot episode as Alf Stewart.
"My contract runs until the end of next year and if I feel the way I feel now I'd be happy to do some more," Meagher told the Daily Express
"I absolutely still enjoy playing Alf. I've become accustomed to fans approaching me in the street, they're always so nice and friendly."
Meagher is currently starring in the West End's Priscilla, Queen of the Desert. He has reprised his role as Bob to celebrate the show's 1,000th production.
He was recently named as the first celebrity to be included as a waxwork in the Sydney branch of Madame Tussauds.
> Home and Away Ray Meagher: 'Waxwork news is an honour'