Bottas has been on a rolling one-year contract with Mercedes since joining the team from Williams in 2017, but since the emergence of George Russell in F1 in 2019, his seat has been a constant source of speculation.
At the end of his own three-year deal with Williams and with F1 heading into a new era of technical regulations, it appears to many that now is the time for Mercedes to make a change.
Previously tight-lipped on when a decision would be made, Wolff has now confirmed a call will be taken before the Belgian Grand Prix at the end of August.
"I think it is important for Valtteri and George to know where they will be driving next year and that is going to happen," he said.
Jokingly, he added: "I expect some questions in Spa then!"
Should Mercedes decide to make a change, Bottas has accepted he would unlikely be fighting at the front with a different team as few seats are available.
The Finn explained: "Most likely, we won't be fighting for wins and titles so it would be a new project.
"On the other hand, that could be very interesting but as I said before, you know what my intentions are, keeping my seat.
"We make a really strong team at Mercedes. Let's see."
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