STM chairman Philippe Schnobb said the needs of the people using the Fairview terminal have evolved since the bus station was built.
Buses now spill out of the terminal onto Brunswick Boulevard, causing winding lines during rush hour times.
The STM is looking at what it can do to serve customers better when its lease with Fairview ends in 2016.
"What I know is that it’s a very busy terminal so it’s true that eventually we have to find a solution that will permit us to offer the best service we can," Schnobb said.
He said the STM is at the early stage of looking at its options and a lot could change between now and 2016.
"One thing that might evolve between now and then is if there is an LRT system that goes up to Fairview," he said, referring to a light-rail train.