Hamilton has been strongly linked with a move to Ferrari, while Wolff is reportedly thought of as a candidate to take over Chase Carey’s role as CEO of F1.
The pair are arguably the key architects of Mercedes’ record-breaking run of dominance over Formula 1 across the last six seasons, and have each said that their futures at the Silver Arrows will be influenced by any decision the other might make about leaving.
Hamilton spoke at the FIA’s prize-giving gala, where he was officially crowned champion for a sixth time, and pointed out that, despite no team on the grid being able to match Mercedes’ reliability and success, the time could still be right for either him or Wolff to seek new challenges.
He said: “I’ve been with Mercedes since I was 13, so it’s really hard to imagine myself being anywhere else.
“What we’ve built over the period that I’ve been there, in the last seven years – but obviously Mercedes have been working longer than that – at the moment is dominant.
“It’s a strong force and I think it’s taken us time to build the strength in depth from within and have the consistency we have.
“It’s not something that has just come overnight, and other teams don’t currently have the elements that we have in place. It takes time to build those things.
“Would it be the same without Toto? I don’t think so. But he’s got to do what’s right for him.
“And just like I’ll know what’s right for me when I have to make that decision, he has to make the right decision for him and what’s best for him and his family and his future. Change is also sometimes a good thing.”