Lewis Hamilton and team boss Toto Wolff say they are very close to the new deal and will soon sign a new deal.
Lewis Hamilton, who joined Mercedes at the beginning of 2013, has already won three championships and is leading the championship with two wins and four podiums this year.
The British driver, who separated last year from all the races, has already won the championship with his victory in the Spanish Grand Prix, while he managed to finish all the races up until now.
On the other side, the contract of the British champion is ending at the end of the season, and the parties have not yet taken any steps to reach a new agreement.
There was also Dieter Zetsche, president of Mercedes-Benz at the Grand Prix of Spain, and Hamilton said they and he were not concerned about the new deal.
Hamilton said, "We are now very close to completing the work in hand, and we hope to complete it in the near future."
"All the bosses are here and as far as I can see there is no one who is concerned about this issue in high positions." said.
Wolff said that although he had not given any dates, the deal was soon.
"Almost everything is complete, we do not want to lose it, and I do not think it wants to go anywhere else."
"Everything is going well, we had other priorities in the last few weeks, especially not satisfied with the performance of the vehicle and we had to solve all of this."
"We had to focus entirely on the development of the team and we did not focus too much on the deal."
"It's a time-consuming process to finalize the contract, and both parties thought it would be more appropriate to do it later."
"We'll let you know when the deal takes place."