The Portuguese international has been consistently linked with a move away from the Bernabeu over the last couple of years, with Manchester United failing with a late loan move in January.
United were expected to return this summer, but Madrid insisted earlier in the window that the full-back would not be departing the capital outfit.
"I hope to continue. This is my fourth year at Real Madrid and I'm happy and I hope I continue. I think I'm valued much more now," he told reporters.
Coentrao helped Madrid win the European Super Cup last night with a 2-0 win over Sevilla.