The club chiefs have been impressed with his development under coach Jurgen Klinsmann.
Bayern chief Karl Heinz-Rummenigge told Bild: “We are very satisfied with his development under Jurgen Klinsmann.
“There have already been talks between Uli Hoeness and him and we will continue these talks and try to extend his contract.”
Schweinsteiger has been linked with Serie A side Juventus in recent weeks.
