Hamilton's future has been the subject of much speculation, with a move to Mercedes being touted as a possibility.
However, Michael is keen to keep the focus on matters on the track, and claims that Hamilton is eager to do the same.
"We are in advanced stages of negotiations with Lewis Hamilton over a new contract and until that's completed, there's nothing definitive to say," said Michael.
"From the point of distraction, it doesn't happen. We're here [in Monza], Lewis is here and we're prepared. He wants to win the Italian Grand Prix and we're all geared up to do that.
"It's very independent of his contractual negotiations because these can go on for weeks and months anyway. Our focus is on the grand prix."
Hamilton currently sits fourth in the driver rankings.