Mercedes CEO Nick Fry confirmed Di Resta was on their radar, following his impressive performances in the season so far.
If Schumacher decides to quit at end of season, the Scottish driver is expected to replace him.
The 26-year-old has collected 15 points this season and equaled his best-ever result with sixth place in Bahrain.
Mercedes have now gone public with their admiration but they could face a battle with Ferrari who are also rumoured to fancy Di Resta to replace the under-performing Felipe Massa.
“Of course Paul’s on our radar. He’s done a fantastic job, he’s a nice guy, he’s great team player and he would be one of the drivers, if Michael decided he didn’t want to continue, we’d look at,” the Daily Star quoted Fry, as saying.
Fry admitted the seven-time world champion is unlikely to carry on if results don’t improve quickly.
He added: “If we get to the end of this year and it continues as it has done for the last few races I think he will probably be asking himself that question.”