The 29-year-old is in his second spell at Atletico, first representing the club between 2015 and 2018 before leaving for Dalian Professional, but he returned to the Spanish capital in 2020.
In total, the Belgium international has represented the Red and Whites on 263 occasions in all competitions, scoring 47 goals and registering 44 assists in the process.
Last season, Carrasco featured on 44 occasions, scoring 10 goals and registering five assists, but there is currently speculation surrounding his future at Wanda Metropolitano.
The Belgian's contract is due to expire next June, and Simeone recently confirmed rumours that Carrasco could potentially join Barcelona this summer.
"Yannick Carrasco has the opportunity to join Barca, which is a great opportunity for him. I want the good players to stay but if they leave, I thank him for everything," Simeone told Cope at the start of June.
Talk of a potential switch to Camp Nou has cooled in recent weeks, with Xavi's side seemingly not planning to take up the €19m (£16.3m) option.
However, there remains widespread speculation surrounding a possible exit, with a number of clubs believed to be considering making a move this summer.
Simeone has branded Carrasco "very important", and the Argentine is 'hopeful' that the Belgian will remain at Wanda Metropolitano beyond the end of the summer window.
"Carrasco is very important to us, he knows us well and hopefully he can continue with us," Simeone told reporters.
Atletico opened their preparations for the 2023-24 campaign with a 3-2 defeat to a K-League XI on Thursday, but Carrasco was an unused substitute in that contest.
One player who is expected to leave the club this summer is Sergio Camello, though, with the 22-year-old allegedly agreeing to return to Rayo Vallecano on loan for the new season.
According to AS, Camello is heading back to Rayo following a successful spell at the club last term, scoring seven times in 41 appearances in all competitions.
There is allegedly no purchase option in the agreement, so another strong campaign could potentially see him battle for a first-team spot at Atletico during the 2024-25 season.