Mr Todt revealed he visited the seven-time world champion at his home in Switzerland last week. The German has not been seen in public since he suffered serious head injuries in a skiing accident in the French Alps in 2013.
His family has kept his condition private and little is known about his recovery.
Mr Todt, who was Schumacher’s team principal at Ferrari, said he is “fighting”.
He said: “I saw Michael last week.
“He is fighting. I hope the world will be able to see him again.
“That is what he and his family are working towards.”
Asked whether Schumacher was the best ever racing driver, the president of Formula One’s governing body the FIA said it was “impossible” to say.
Mr Todt told the Mail on Sunday: “I love Michael. But it is impossible to say who is the best ever.
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“All the ingredients are there with Mercedes for him to do that. I honestly don’t mind.
“I remember in 2000 when I was on the podium in Suzuka with Michael after he won his first title with Ferrari and I said to him that our lives would never be the same again. We had achieved all we wanted.
“After an accident like the one Michael has had, does it matter whether Lewis has won more?
“It is a question of proportion. We are all lucky in Formula One when you see what is going on in the world, and not just with the monster that is COVID-19.”
Schumacher turned 51 on January 3.
His wife Corinna Schumacher shared a rare update about the Formula One legend in December 2019 ahead of the six-year anniversary of his skiing accident.
The Mirror reported that she told fans: “Big things start with small steps. Many small particles can form a huge mosaic.
“Together you are stronger, and that is exactly how combined forces of the KeepFighting movement make it easier to encourage others.”