The Netherlands international joined Schalke from AC Milan in the summer of 2010 and has since developed into a key player at the Konigsblauen.
Huntelaar was crowned Bundesliga top scorer last term with 29 goals, and recently inked a new deal with Schalke until June 2015.
"It is very well possible that I sign another extension with Schalke. I could sign another contract here at the age of 32. Retiring here is an option for me," Huntelaar told Sport Bild.
Schalke has been struggling to find its best form this term, and Huntelaar feels the club must improve if it is to meet its goals.
"I am not satisfied with the way things have been going so far this season, both with my own performances and with the team's displays," Huntelaar stated.
Huntelaar has netted 12 goals in 30 appearances for the side so far this season.