Although Stills is set to reach free agency, general manager Chris Grier hopes to re-sign the 24-year-old deep threat.
"Kenny is an important part. We traded for him before I was in this role. I traded for him," Grier said, via the team's official website. "He showed his value the second half of the year; he made a lot of big plays for us.
"It's a young group of receivers. Those guys all bring a different skill set, so it's a good group. So it's important for us to bring him back."
Stills is coming off a breakout season as a playmaker, finding the end zone a career-high nine times, including a stretch of four consecutive games with a score to close out the regular season.
Grier's comments suggest Miami's brass will sit down with Stills' representatives in an effort to hammer out a new contract before free agency opens in March.