The 34-year-old goalie has two seasons remaining on a seven-year contract he signed with the Devils on July 9, 2014. He was 3-6-2 with a 3.53 goals-against average and an .887 save percentage in 13 games (11 starts) this season. He also played 14 games with Binghamton of the American Hockey League.
Schneider will be available to sign with any team when free agency opens Friday, Oct. 9.
In seven seasons with the Devils, Schneider's 115 wins are third in their history, behind Martin Brodeur (688) and Chris Terreri (118), and his 17 shutouts and 311 games as a goalie are second to Brodeur (124 shutouts, 1,259 games).
Schneider had surgery to repair a core muscle injury in May 2016, and surgery to repair torn cartilage in his left hip two years later. He's 9-19-6 with a 3.22 GAA and .897 save percentage in 39 games the past two seasons.
"It's all about trying to be in peak physical condition because I feel good, mentally," Schneider said May 18. "I want to continue my career. I haven't entertained thoughts of retirement at all.
"I'm not naive to the business side of things, but feel that when I'm playing well, I can do a lot for our team on the ice and off the ice. That's the role that I want to fill."
Selected by the Vancouver Canucks in the first round (No. 26) of the 2004 NHL Draft, Schneider is 170-159-58 with a 2.43 GAA, a .918 save percentage and 26 shutouts in 409 games (388 starts) with the Canucks and Devils.