The 28-year-old South Africa international has not put pen to paper on new terms at Goodison Park with his current contract set to expire at the end of the current campaign.
Pienaar moved to Everton from Borussia Dortmund for £2million in 2007 and last term was named the club's player of the season.
However, despite becoming a fans' favourite on the blue half of Merseyside, Moyes admits the athletic midfielder could leave for nothing.
"If it came to that, then I said I would be happy for it to run down if he didn't want to sign," he said in the Daily Star.
"For what we paid it was definitely worth it.
"I'm hoping he would choose to stay. If he doesn't, then that happens."
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