Schalke chief Clemens Tonnies has confirmed the club are waiting to hear back from Raul over their contract offer.
The 34-year-old is a firm fans' favourite at the Veltins-Arena after joining from Real Madrid in 2010.
He has scored 33 goals in 87 appearances including 11 this term, and because of this it is reported that he is looking for a two-year deal, rather than the one which has been offered.
Tonnies revealed to Sky Deutschland that the club were only offering him a further 12 months, but they were confident of agreeing a deal.
"We have handed him a very good offer and we are in talks with his player agents," Tonnies said.
"We keep waiting for a response. We would like to keep Raul at our club for one more season.
"The decision is up to him, generally we are in a good consent with him."
At the weekend coach Huub Stevens admitted he was cautious about the club's decision to offer Raul a new deal.