The former heavyweight world champion has been teasing his return to the ring on social media and Warrington is convinced that he will be back in action at some point in the future.
The two-time featherweight world champion told BBC Sport: "In the past he may have meant it. This time it might just all be a strategy. I don't think he's finished.
"He's leading us all down a garden path and deep down, I reckon he knows it too. Fury's fire is still burning.
"I've been in this sport since the age of seven and I've seen it countless times. When a fighter says they're done, sometimes it's just a pause. A chance to breathe, reset, take the pressure off.
"At other times it's a decision made in the heat of the moment, based on impulse."
Warrington is in a good position to talk on the issue as he reversed his decision to call it quits after he called time on his career after losing to Anthony Cacare last September.
He recalled: "I told my dad in the corner after my third straight defeat that, 'It's not there any more.'
"I was 100 per cent committed to that decision. I was broken, both physically and mentally. I did a lap of honour and told Eddie Hearn I was retiring.
"The next day, on the way home, was the longest and most painful drive of my life. For the next couple of weeks, I'd take my kids to school then come back and get into bed and start crying.
"Because boxing isn't just a job to me – it was who I was. It kept me away from trouble, gave me a purpose when others around me didn't have one. So when that part of you suddenly disappears, it's terrifying."
Warrington continued: "People messaged me, even those who admitted they didn't like me, telling me to hold my head up.
"I watched my fight and realised that it wasn't as bad as I thought. At the football, Leeds United fans were stopping me, telling me I wasn't finished.
"So I went back to the gym, started moving again and realised I still had something left. I couldn't go out like that."