Hamilton’s contract with Mercedes terminates at the end of next season and his preference is understood to remain with the Brackley-based team.
But with no deal signed, there have been question marks over why Hamilton is yet to commit his future.
But Wolff has dismissed those doubts and is confident an agreement will be found.
He told the BBC: “No on the contrary, we are in negotiations about a new long term contract. Hopefully Lewis can stay with us for many more years and this is the wish of all the parties.
“He wants to be with us and we’d like to keep him obviously.
“But at the same time I think he just needs to have the piece of mind that whatever he decides in the future to do, he can do it.
“At the moment he loves Formula One and doesn’t want to do anything else. All the rest is hobbies but maybe in two, three, four years that could change.”
Speaking on Italian TV earlier this week, Hamilton stated 2018 wouldn’t be his last year at Mercedes.
“2018 is not the last year with Mercedes,” explained Hamilton on Italian TV show Che Tempo Che Fa.
“We are talking about the future, there will be a new contract, for sure.”