The 30-year-old Belgian has become a key part of Jose Mourinho’s plans at Old Trafford, after a period where it seemed like his United career was on the wane.
Fellaini made 49 appearances for the Red Devils last season as United won three trophies, including the Europa League and League Cup.
But the towering midfielder’s contract is up in the summer, and after failed negotiations last year, Fellaini believes that his on-field importance means the club have made a mistake by not extending his contract sooner.
"The entire staff is doing everything so I can stay,” Fellaini told Sport Magazine. “But the club made an error in not extending my contract last season. Now I am in a strong position, especially since Mourinho has stated that he wants to keep me.
"Last year I went to the coach and I said that I wanted a new contract. I then had a second meeting, but I will not ask it ten times.
“Afterwards I became important for the team. A good player costs at least 50 million euros. The club knows that they went wrong there."
As no agreement has yet been put in place for Fellaini to remain at Old Trafford, the Belgian has been linked with several clubs across Europe as well as in China.
And the former Everton midfielder went on to state that he has no issue with moving to the Far East, although he has no urgent desire to leave the north-west.
"I am now thirty years old, at the end of my contract and negotiating with Manchester United. There are several clubs that show interest. I'm waiting for what's going to happen" Fellaini said. “Maybe [I could leave] but don’t forget that I am at one of the biggest clubs in the world, it’s going well, I know all of my teammates, the staff, everyone respects me. Why change?
“But there is no point rushing or accepting anything. I am relaxed for the moment.”
On China, he added: “It’s an option. I am open to a lot of possibilities.
“Living in China doesn’t worry me. I love to discover other places and other cultures. And I will not go there alone. If I go, it's with the family.”
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