BBC Sport pundit Eddie Jordan revealed last month that Schumacher had had talks about a comeback with Mercedes and that it would probably happen - and now Di Montezemolo has confirmed it.
A lot of fans will think Michael is a traitor but I will explain to them it is not Michael but another one
Luca di Montezemolo
Ferrari president
"A guy called Michael Schumacher told us at Monza (in September) he would renew his (Ferrari consultancy) contract," Di Montezemolo said. "And it looked like his career would finish with Ferrari.
"But then there's another one who looks like him, 40, 41 yrs old, German, same name and decided to do a new career.
"Everybody in life can do what they prefer, and I understand that there is somebody at 41 years who wants to try again.
"So I think it's possible this twin, another Michael Schumacher, same age, same capability, some determination and spirit, will drive for Mercedes next year."
Di Montezemolo said Schumacher had been "destroyed" when it emerged he would not be able to make a temporary return to F1 with Ferrari last summer as a stand-in for the injured Felipe Massa because of a neck injury sustained in a motorcycle accident last winter.
"He phoned me, and he was so sad. He said: 'Listen, the doctor says I cannot do anything because I still have a problem with the neck.
"That day, Michael was not sad, (he was) more than sad. He was destroyed.
"Of course, I will have a lot of fans on our website very upset. They think Michael is a traitor. But I will explain to them it is not Michael but another one.
"As a friend, it is difficult for me, but I'm happy to see somebody so fit and with such big determination.
"As chairman of Ferrari, I'm so sad. He received a lot from Ferrari, and he has given a lot to Ferrari. I think the combination in the good and the bad moments was very, very good.
"This is the reason why I think we have to accept there is another Michael who is wanting to race. The real Michael is still with Ferrari."
