The four-time Formula One world champion is currently under contract with Mercedes until the end of 2018.
But following Nico Rosberg’s decision to retire in 2016, having won the World Drivers’ Championship and with two years still on his deal, Mercedes are keen to get Hamilton to commit his future.
However, Wolff is confident Lewis Hamilton won’t go down the same route that Rosberg did.
“I think Lewis is a free spirit,” Wolff said.
“Lewis doesn’t want to be put in a box with people saying, ‘You need to behave like this and do this to be a racing driver’.
“One of the key things for him is to be free and be able to decide what he wants to do.
“And in a certain way, keeping all the options open is something that takes pressure off of him.
“He could be doing something completely different in a year or two or three’s time and I am aware of that, but equally I know he will protect the structure and not just say, ‘I’m out of here tomorrow’. But this is part of his strength actually.”
Asked for an update on Hamilton’s contract, Wolff added: “They have started already and we are on a good way. Let’s see when the white smoke comes out of the chimney.”
Hamilton will take the track to defend his title when the 2018 season gets underway in Australia next March.