The 62-year-old is adamant that his former side must do everything in their power to keep the forward beyond the end of the current season
By Andreas Becker
The former Real Madrid striker is out of contract in the summer and has recently been linked with a lucrative move to Qatar, despite his agent's denials.
Although Schalke have made it clear they would like to keep the forward, it is unsure whether the Bundesliga outfit are willing to meet the player's contract demands, but Fischer hopes he stays at the Veltins-Arena.
"I cannot say much about Raul. Several things are in the media but whether it's true or not, I do not know. But it would be a shame for Raul and the club [if he left] because he is a nice figure," he told Goal.com.
"He is a player who gives everything. They all love him at Schalke so it would be a shame if he was to go."
Schalke entertain fierce rivals Borussia Dortmund on Saturday as the Royal Blues look to secure a Champions League spot and Fischer struggled to predict a winner.
"The odds are 50-50. This will be a tough game for us, no question. I hope that after the team's defeat against Nurnberg, the players are still there for one another," he added.
"Dortmund are already strong, they have not lost in 24 games, they're six points ahead [in the Bundesliga] at the moment and go into the game with a broad chest."
Asked of the significance of Schalke qualifying for the Champions League, the 62-year-old replied: "This is the most important thing for us. We are four points ahead of Borussia Monchengladbach and if we lose [and Gladbach win], we would suddenly be just one point ahead."
"We are of course going to get fourth, no question, but then you cannot plan properly. Therefore it is very, very important we win the game against Dortmund but we have to work hard."
When the two sides met in November, Dortmund ran out 2-0 winners at Signal Iduna Park.