The 37-year-old Raikkonen has not won a race since his return to Ferrari, and he lies fifth in the drivers' championship, 86 points behind teammate Sebastian Vettel, who leads the standings.
Valtteri Bottas will be out of contract at the end of the season, but Hamilton does not envisage Vettel filling the Finn's seat in 2018 due to his presence on the team.
He said: "I think it is highly unlikely that he will be here, and I don't think he wants to be my team-mate!"
As Bottas slowly got his Mercedes out of trouble and back to the pits, Hamilton stayed out on the same set of tyres and pumped in a 1m45.555s to leap a second clear of Ricciardo.
On the so-called race-simulation runs, when teams fill up their tanks with fuel and practise the first part of the race, Vettel was 0.7secs on average quicker than Hamilton, with Bottas a further 0.1secs back.
He finished third that day in Melbourne, and went on to record nine consecutive podium finishes - including his first victory at the Canadian Grand Prix - in an nearly flawless opening campaign.
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Vettel comes out of the annual summer break as the championship leader, with a 14-point margin over his Mercedes AMG rival.
First practice gets underway at 9am, followed by the second at 1pm BST.
"I have been racing so long, you would think your passion, your desire to win, would fade, but it is stronger than ever and that is exciting for me".
"Lately it's been a bit better, we've been feeling a bit more comfortable and been able to drive as we want and obviously the result suddenly looks a bit better", said Raikkonen. The long run was better.
"For me I was not so happy".
He went quickest just before the 90-minute session's halfway mark on a 1m46.439s on super-soft tyres, and later went nearly a second faster in the final half an hour on softs. The slender gap that divides them, Hamilton concedes, has been down to consistency.
"All in all, I would say we have done OK, considering there were so many changes".
It is a race which threatens to be hit by bad weather, but Hamilton, so often a master in the rain, is typically not fazed.