While Red Bull star Max Verstappen remains at the top of the list for the coveted seat, other names like Carlos Sainz, Fernando Alonso, F2 driver Kimi Antonelli, and even the recently retired Sebastian Vettel have been thrown around.
The German legend himself hasn't completely shut the door on a comeback - even hinted at a potential return if the right opportunity arose.
This has been further fueled by recent comments from Silver Arrows boss Toto Wolff, who is currently evaluating potential replacements for Hamilton.
Could Vettel be back?
Speaking to the press, Wolff acknowledged Vettel's enduring talent, saying, "Sebastian is someone you can never discount.
"His track record is phenomenal, and sometimes maybe taking a break is also good to evaluate what's important for you and re-find your motivation."
The Austrian boss further emphasised that a decision is still far off. "We haven't taken the decision yet and it's not something we plan to do in the next few weeks," he added.
"The driver market is very dynamic and some of the really good guys are about to sign for the other teams and we want to continue to have these discussions."
While Wolff remained cautious about committing to a specific driver profile, his comments about 're-finding motivation' could be a subtle clue pointing towards a sensational return for the German champion.