The band's last studio record was 2008's Beautiful Future. They released Screamadelica Live! earlier this year.
Singer Bobby Gillespie told NME: "We've recorded some new music, quite a lot of new music actually and written a lot of new music. But we've been touring this Screamadelica show for such a long time.
"We'll continue working on [the new material] until the end of October and the winter. Hopefully we'll have a new Primal Scream album out next year."
He added: "Nothing's finished, it's still a work in progress."
Primal Scream's bassist Mani earlier this year distanced himself from reports that he would reunite with his former Stone Roses bandmates.
> Primal Scream to headline Hogmany in Edinburgh
Watch Primal Scream play 'Beautiful Summer' live on MTV2 below: