Schwarzer's initial contract was for 12 months but he expects to soon come to an agreement regarding a new deal.
"I would like to yeah," he told Goal Australia.
"We've had positive discussions and I think it's just a matter of time now before something is concluded one way or the other."
"Anything's possible at the moment, yeah," he added.
"There's obviously a lot of things up in the air and a lot things will become a lot clearer closer to the Champions League final. And (then) we'll all know what's going to happen at the club next season."
Schwarzer made a total of nine appearances for Chelsea last season, including both legs of the eventual Champions League semi-final loss to Atleti.
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