Los Blancos have been linked with a move for the Brazilian midfielder, who has been a Blues regular since joining for £17m from Benfica in the summer of 2010, as a replacement for Sami Khedira, who is expected to be the subject of January interest from Manchester United.
However, the 26-year-old does not take Madrid's admiration of him as much more than a compliment to his performances for Chelsea, where he is loving life under new manager Jose Mourinho.
He told reporters: "I see the interest of Real Madrid as a recognition of my good work in Europe, but I'm under contract with Chelsea and it would be unethical for me to comment [on their interest]. For the moment, these are only rumours.
"I am very happy here. I am respected and part of the club's history. If I leave, Chelsea would have to make the decision. Chelsea is one of the biggest clubs in the world. I have realised my dream here.
"My goals are never personal, but collective. I want to continue to play football and help my team win titles. Collective success makes me stronger individually. Mourinho is a very decent coach. I have evolved since his arrival. I hope to continue to help and doing what he expects of me."
Ramires signed a contract extension last year to keep him at the Blues until 2017.