Toto Wolff said Hamilton was "more complete than ever before".
"[He is] showing commanding performance in the car and challenging the entire team to perform to higher levels at the same time," Wolff added.
Hamilton will clinch the title at Sunday's US Grand Prix if he wins and Sebastian Vettel finishes below second.
Even if Hamilton does not win at the Circuit of the Americas, he will be champion if he outscores the Ferrari driver by eight points.
Hamilton, 33, has taken six victories in the last seven races and heads to this weekend's race in Austin, Texas, with a 67-point lead with only a maximum of 100 points available over the remaining four races this season.
The British driver has won five of the six races held in Austin since the inaugural event in 2012 - one for McLaren in 2012, and the last four in a row for Mercedes.
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