The 22-year-old, who has been capped four times by world champions Germany, is in the final year of his contract with the Royal Blues.
Schalke sporting director Christian Heidel revelaed on Thursday that Meyer will not be staying on at the club where he started his professional career.
“Max Meyer will definitely leave Schalke in the summer,” Heidel said at a press conference.
Heidel said that there was no bad blood on either side, and that it was a situation that clubs deal with all the time.
Watch: How Dominico Tedesco has rejuvinated Meyer (from 01:07)
“A change is part of football,” Heidel said. “We’re dealing with it in a highly professional manner… Max Meyer will be treated fairly until the final matchday.”
Meyer has recently been suffering with a foot injury, and had to sit out training on Wednesday. A European champion at under-21 level, he has started 21 league games for Schalke this season, helping them to second place in the standings.
The current campaign is already the playmaker’s sixth with the first team, and he has featured in 146 Bundesliga games for the Royal Blues to date.
Meyer’s only goal this season came in a 1-0 win over Cologne in the DFB Cup, and he will now join another young German international – future Bayern Munich player Leon Goretzka – in leaving Gelsenkirchen over the summer.