Luka Jovic reportedly rejected the chance to join Chelsea earlier this summer as he is determined to prove himself at Real Madrid.
The Serbia international endured a tough first campaign at the Bernabeu after joining from Eintracht Frankfurt in a big-money deal last year.
Jovic managed two goals in 27 appearances in all competitions and was widely expected to move on before the 2020-21 campaign started.
However, Spanish outlet AS claims that the 22-year-old turned down the opportunity to revive his career away from Madrid.
Jovic was kept on the bench as Madrid played out a goalless draw with Real Sociedad in their opening La Liga game of the season on Sunday.
Speaking after the game, boss Zinedine Zidane denied having any issues with the former Benfica player.