With Mark Webber on Thursday announcing his retirement from Formula One at the end of the year to join Porsche's sportscar programme, it means there is now a vacancy at Red Bull.
Raikkonen has become a 4-9 favourite to take up the seat and join with triple world champion Sebastian Vettel's from 2014 onwards.
But as yet, with Lotus yet to offer the 33-year-old Finn a new deal, Raikkonen's future is in limbo.
Given how well Raikkonen has performed since his return to F1 at the start of last year after a two-year sabbatical, it is now almost certain the two teams will be in a race to secure his signature.
"Whatever the decision will be, it will not be easy, but it is never easy," said Raikkonen.
"It is not the first time there are different options on the table, and obviously you take the one you think is right at that moment.
"It is hard to say at that time, if it's the right or wrong decision and you have to live with it whatever it is."
Part of the conundrum for Raikkonen is the fact the sport will undergo a major overhaul from 2014 with the introduction of new engine rules.
Red Bull have a long-term deal with Renault, and with Lotus poised to re-sign with the French manufacturer, it will come down to who can offer the more competitive package.
But then there is no guarantee Red Bull-Renault will continue to dominate, as they have done since 2010.
"It's 10 times more difficult (to make a decision) than with the same rules, same engines and same cars," said Raikkonen.
"But you hear a lot of stories from the engine manufacturers that they will be a lot stronger. I don't know how much truth is behind that.
"There is the same engine for both teams so that doesn't make a big difference.
"But you always want to try to get the best car, and they (Red Bull) have shown they have had the best package overall for the last three years."
Lotus, however, have made Raikkonen one of the highest paid drivers in F1, and to keep him happy have kept his sponsorship commitments to a minimum given his dislike for that side of things.
"It has been perfect," said 2007 world champion Raikkonen of his relationship with the Enstone-based marque.
"Without them I wouldn't be here in F1. For sure, they have also got some good things out of it, so I have no complaints.
"Obviously there are certain things that have to improve, but I have had a great time with the team so far, which is why the decision will be difficult.
"The team give me freedom, and that is one of the key points.
"Obviously you want to have a good car and certain things have to be right, but there are a lot of small things that also have to be right for yourself.
"I've been around the business long enough to know what I want and if those things are not right then the decision might be different.
"But we both know, the team and I, what we have to do to make things go forward."