The pair have both been linked with big-money moves to the Premier League and are reportedly targets of Arsenal and Liverpool.
But Schalke general manager Horst Heldt is instead more interested in agreeing contract extensions with Holtby and Huntelaar beyond the end of their current deals which expire next summer.
Heldt told Deutsche Presseagentur: "I have actually received no concrete enquiries for them.
"In terms of Lewis Holtby, I feel we are in a final phase (of contract talks). A decision could be quite close as it seems to actually be just about details.
"A decision could still be taken after the end of this current calendar year."
Heldt added: "I am not expecting to get to know any interest from any other club before the newspapers.
"I would still only consider anything after having received a concrete enquiry. Our main goal is to sign new deals with both players. We want both of them to stay on at Schalke."