Veh, who has been at the club since 2011, secured promotion back to the top flight in his first season before finishing sixth in the Bundesliga last time out.
Frankfurt sit 12th this term and, while Veh's contract is set to expire at the end of the campaign, Hubner is hopeful that he will stay at the Commerzbank-Arena.
"The coach is still an absolute expert (who) knows his way around the European stage," Hubner told Bild.
"He knew that it will be a difficult season. He does a great job with the situation around him and he is still motivated.
"We have said that we will speak at the appropriate time. I can imagine everything - and because I'm always an optimist - even imagine that there is further collaboration."
Hubner added that he understood Veh's decision to leave strikers Vaclav Kadlec and Joselu on the bench for Saturday's 4-0 defeat to Borussia Dortmund.
The pair have 14 goals between them this season in all competitions but Hubner felt it was simply a case of squad rotation.
"The coach has set different priorities, he wanted to protect the players for games in which we must gain points," he added.
