However, he endured a miserable time at the American outfit, collecting just 12 points in 44 starts.
The German was replaced by Nico Hulkenberg for the 2023 campaign, and has been operating as a reserve driver at Mercedes since being left without a seat.
Is time running out for Schumacher?
He had been tipped for a return to the grid in 2025, with Williams previously linked with his signature before completing a deal for Carlos Sainz.
Now with just two seats up for grabs next year, his chances of earning a contract elsewhere are slim, meaning it will likely mean another season spent on the sidelines.
Former F1 driver Hans-Joachim Stuck believes his compatriot has been unfairly overlooked by team principals, and has laid the blame for this squarely at ex-Haas boss Guenther Steiner's doorstep.
Stuck has criticised the Italian's treatment of the 25-year-old, and claims it has had a lasting impact.
Speaking to Eurosport, the two-time Le Mans 24 winner said: "You just have to see that Guenther Steiner destroyed him, criticised him for mistakes that were completely normal.
"He has his conscience on his conscience.
"He might have had a chance at Williams, but Audi would certainly not have been the right racing team.
"Now even younger drivers are coming up, Mick is not getting any younger - he would have every right to get a place again and beat them."