Magnussen raced for McLaren last season alongside Jenson Button and was drafted in for the 2015 season-opener when Spain's double world champion Fernando Alonso was ruled out with concussion from a crash in testing.
The 22-year-old is currently looking for a drive for 2016, with McLaren's racing director Eric Boullier saying recently that the team hoped to help both him and Belgian GP2 leader Stoffel Vandoorne find a seat somewhere.
"McLaren have only two cars, only two race seats and we have two world champions and we do intend to keep them so far," said the Frenchman.
"Kevin and Stoffel are very good. Both of them we expect to race in Formula One and if we can't accommodate them we will do our best to make sure they can race next year."
Magnussen, who finished second on his F1 debut in the 2014 Australian Grand Prix, has also been linked to the new U.S.-owned and Ferrari-powered Haas team which is due to enter the sport next season.
McLaren have had a nightmare year, the sport's second most successful team struggling among the backmarkers in the first season of their new partnership with Honda. They are currently ninth of 10 teams.
(Reporting by Alan Baldwin, editing by Pritha Sarkar)
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