Kuranyi scored both goals in the 2-0 win over Bayer Leverkusen on Saturday which put them top of the Bundesliga ahead of Bayern Munich and made the ex-Germany striker the league's joint top-scorer.
The 28-year-old has been exiled from the Germany squad since walking out in frustration 18 months ago, but Magath says Löw and Kuranyi are now back on speaking terms.
"They spoke last week after, I believe, meeting each other by chance," Magath told German television channel DSF. "As a trainer, one must constantly reconsider your decisions and sometimes change them. You have to do what is best for your team and Kevin is currently the best forward in Germany."
It remains to be seen whether Kuranyi will earn himself a recall since walking out at half-time of Germany's World Cup qualifier win over Russia in October 2008 after being left out of the match day squad.
Löw later accepted Kuranyi's apology, but insisted he would never again pick the striker, who has 52 caps and 19 goals, for the national side.
Schalke's fans made their feelings known with chants of "Jogi, open your eyes" throughout their side's win at Leverkusen. Kuranyi is having the best season of his career with 17 goals.
Löw's first-choice strikers, Bayern Munich's Miroslav Klose, the top scorer at the last World Cup, and Cologne's Lukas Podolski, have scored just four Bundesliga goals between them all season.
"I am in the form of my life, but it is not me who decides," said Kuranyi, who also missed out on selection for the 2006 World Cup. Only one person can make that decision and I will do everything to try and persuade him."