Jenz is at Celtic on loan from French side Lorient, with the agreement set to run for the season and the Bhoys boasting an option to buy.
He is down the defensive pecking order at Celtic though and his stint in Scotland looks to be coming to an early end.
Jenz is heading back to his native Germany, according to Sky Italia, and is expected to sign for Schalke on a loan agreement.
The Ruhr giants will also hold an option to keep hold of Jenz on a permanent basis.
Schalke are in dire trouble in the Bundesliga, sitting rock bottom of the table with just nine points from 16 outings.
Jenz will hope to be able to play his part in a revival for Schalke, who are in action this evening against RB Leipzig.
He has become frustrated at his lack of game time at Celtic in recent weeks and will hope that the story is a different one for him back in his homeland.