Hamilton will be moving to Ferrari ahead of the 2025 season, leaving an unexpected seat to be filled - which Mercedes reserve and test driver Schumacher has half an eye on.
Schumacher has been partaking the role of test and reserve driver with the Brackley-based team since the start of 2023, after being kicked out of his seat at Haas by then-team principal Guenther Steiner.
While the German is to still perform his role with Mercedes in 2024, he will also drive with Alpine's endurance team, competing in the World Endurance Championship (WEC).
This signifies a full-time return to racing for Schumacher, as he seeks to find a route back onto the F1 grid.
Schumacher looking for way back into F1
Now, following Hamilton's shock switch to Ferrari, Schumacher has been talking about his chances of a return to F1, recently stating his belief that he can make it back to where his father was so successful.
He believes that Hamilton's situation may open a few doors, with the driver market set to descend into chaos.
"I'm of course aware that Lewis' Mercedes seat will then be free," Schumacher told Sky Germany.
"I'm still keeping an eye on Formula 1 and hopefully the dream will come true again. But in the end it's important that I also do my things and see my role as a reserve driver - and especially my role as a WEC driver in the foreground.