The Dutch international striker, who has been linked with a move to Juventus, will be a free agent next summer.
"We have decided that we won't have any contract talks before December and there will be no new developments," the club's general manager Horst Heldt told Sport 1.
"My goal is to persuade him to stay at Schalke and to extend his contract.
"We will resume the talks in December, January at the latest, and then I expect a quick decision."
Huntelaar joined the German side from AC Milan in August 2010 for around £9m.