The 28-year-old was strongly linked with a move to link up with former boss David Moyes at Manchester United this summer.
Baines has just two years left on his current contract at Goodison Park.
“When the window is open I think it’s the wrong time to speak about those things and so we hadn’t discussed it,” Martinez told reporters.
“But now the window is closed, we are going to look into all the players in the squad and see where their contracts are up to.
“Then, individually, we will look to address that.
“It would just have created more instability if we had done that while the window was open.”
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