Heynckes may not retire in May
Heynckes will walk away from Bayern in the summer with former Barcelona boss Pep Guardiola to take over at the Allianz Arena.
Bayern and Heynckes denied he was being replaced when Guardiola's three-year deal was announced, on January 16, instead claiming the 67-year-old was ready to call time on his career.
But ahead of the first leg of Bayern's last-16 Champions League tie against Arsenal on Tuesday, Heynckes revealed he might yet be swayed to continue on.
"I do realise there is some rumor and some information about that," he said.
"I can't do anything about the rumors. I am a big-name manager and my name will come up.
"I will see about it at the end of the season."
Heynckes has guided Bayern 15 points clear of the chasing pack in the Bundesliga while they are one of the favorites to return to the Champions League final after last year's penalty shoot-out heartbreak against Chelsea.
The former Real Madrid boss is, however, reluctant to let speculation affect his side as they aim to finish his third spell in Bavaria on a high.
"What managers have to do is work hard with their teams," he said.
"Until the end of the season I will do what I have been and focus on my team."
Schalke sacked Huub Stevens in December but his replacement Jens Keller has won just once in six games since he took charge.
Under Heynckes Bayern are arguably the form team in Europe, having won their past 11 matches in all competitions.
They have kept 10 clean sheets during that run, while goalkeeper Manuel Neuer is yet to be beaten at all in 2013.
The Germany international revealed following Bayern's arrival in London that he has been left bored by his side's dominance at times.
"After some games this season I haven't needed to have a shower," he joked.
"Yes I guess sometimes it is boring being in goal.
"But it is actually important to keep talking and have communication with my defense.
"The key for Bayern Munich is that the whole team defends and we cover the spaces well.
"We immediately go to win the ball back. You can see that in the fact we have only conceded seven goals (in the Bundesliga) so far."