Raul has been assured by Real Madrid that he will have a role at the club when he has ended his playing career, according to the Spanish striker's agent.
Raul, 34, is under contract at Schalke until next summer after rejecting the opportunity to experience the Premier League with Blackburn during the transfer window.
Schalke have indicated that Raul could be offered another deal but, at this stage of his career, the player is already starting to think about life after he hangs up his boots.
And Raul's representative, Gines Carvajal, has revealed that his client is planning to return to the Santiago Bernabeu following his retirement.
"Raul is turning 35 years of age and he is under contract until June 2012. He needs to know how the current season will turn out," Carvajal told the Spanish-based Terra media.
"We have agreed that the end of the season is a perfect moment to discuss the future.
"It is agreed that he will be given a role at Real Madrid when he hangs up his boots and has retired from the game."
Raul began his career at Real and achieved legendary status before leaving for Schalke on a free transfer 12 months ago.