The 41-year-old Raikkonen was the 2007 champion and this season became the driver with the most race starts. Next season will be his 19th in F1.
The 21-year-old Schumacher leads the Formula 2 standings after winning races in Monza and Sochi.
Mick Schumacher hopes to land seat in Formula 1 next year after winning Sochi Formula Two feature race
The Swiss-based team is expected to give Schumacher a practice run in one of their cars at next month’s Eifel Grand Prix at the Nurburgring before confirming its 2021 line-up.
Formula 1 2020: Williams' George Russell says he's 'very lucky' to escape serious injury at Belgian GP
British racer Russell's car suffered extensive damage and a rear wheel flew across the track ahead of him during Sunday's Belgian Grand Prix.
Formula 1: Alfa Romeo's Kimi Raikkonen undecided on future, considering retirement to spend time with family
Raikkonen, who became the sport’s most experienced driver in terms of laps and kilometres completed during the Spanish Grand Prix two weeks ago, told reporters he was considering his future
Formula 1 2020: Mercedes' Lewis Hamilton takes pole position for Styrian GP after rain-marred qualifying
It was Hamilton's record-extending 89th career pole and particularly impressive as he first beat Red Bull driver Max Verstappen's mark and then his own leading mark on his final lap.
Formula 1: Fernando Alonso ready to make a comeback, says his former Renault team boss Flavio Briatore
The 38-year-old Spaniard left Formula 1 at the end of 2018 but is seen as a possible replacement for Australian Daniel Ricciardo, who is moving to McLaren in 2021.
Formula 1 2020: From Mercedes gunning for title double to McLaren leading midfield battle, success metrics for each team
As the 2020 season of Formula 1 gets closer, we try to define what success could look like for each team in the year.
Formula 1 2020: Alfa Romeo's Robert Kubica emerges fastest as pre-season testing resumes in Barcelona
Reserve Alfa Romeo driver Robert Kubica was fastest as Formula One preseason testing resumed Wednesday at the Barcelona-Catalunya Circuit.
Formula One teams Alfa Romeo and Haas unveiled their cars for the new season on Wednesday.
Robert Kubica has joined Alfa Romeo as their 2020 reserve driver, the role the Pole carried out 14 years ago when he made his Formula One debut with the Swiss-based team then known as BMW Sauber.
Formula 1 2019: From Verstappen, Leclerc's fight to Alfa Romeo's challenge for Racing Point, contests to look forward to at Abu Dhabi GP
Abu Dhabi Grand Prix will be the last race of the 2019 Formula 1 season. While Lewis Hamilton and Mercedes have already claimed both world championships a few races ago, there are several other important and exciting championship battles waiting to be decided.
The 50-50 venture is expected to create new synergies and advantages from scale
Formula 1 2019: With Renault's Nico Hulkenberg left without a team, here's a look at German's options for 2020
At the 2019 Belgian Grand Prix, Renault confirmed Esteban Ocon would be driving for the team alongside Daniel Ricciardo in 2020, leaving Nico Hulkenberg without a seat.
Formula 1 2019: King of Spa Kimi Raikkonen returns to favourite track, wants to continue taking new challenges
Raikkonen genuinely seems to be enjoying himself at Sauber, while also bringing home strong results. He is currently eighth in the drivers championship, and has consistently scored points in eight races this season
Formula 1 2019: Kimi Raikkonen struck by spectator outside paddock; Alfa Romeo driver says fan was 'bit drunk'
Kimi Raikkonen's testing weekend took an unexpected and scary twist on Friday evening when he was struck by a spectator outside the paddock at the Belgian Grand Prix.
Formula 1 2019: Lewis Hamilton's ninth-place finish in German GP under doubt as Alfa Romeo lodges appeal against penalties
Alfa Romeo on Thursday confirmed their appeal against the time penalties that denied them a double top 10 points-scoring finish at last Sunday’s German Grand Prix.
Bahrain Grand Prix: Lewis Hamilton defends rival Sebastian Vettel after Ferrari racer's form comes under scrutiny
Lewis Hamilton moved to defend rival Sebastian Vettel as the German's recent form came under scrutiny following another costly spin at the Bahrain Grand Prix.
Former world champion Kimi Raikkonen is now an elder statesman of Formula One but admits he used to be a party animal and says it made him a better driver.
With just days to go for the start of the 2019 Formula One season, the excitement levels are sky-high. Last season, we saw Ferrari put down a strong challenge to Mercedes in the Constructors' Championship as their lead drivers Lewis Hamilton and Sebastian Vettel battled for supremacy.