Reports in the British media have indicated Madrid are planning a bid to lure Mourinho - who coached the Spanish side from 2010 to 2013 - back to the Santiago Bernabeu.
Madrid boss Rafael Benitez has come under pressure following their 4-0 Clasico defeat to Barcelona and expulsion from the Copa del Rey for fielding an ineligible player.
Yet Mourinho was coy on rumours he could return.
Asked if he imagined himself coaching Madrid again, he replied: "I imagine myself finishing my contract with Chelsea, I have three-and-a-half years left on my contract. [Afterwards] I imagine myself managing every club."
Mourinho himself has been the subject of intense scrutiny, with Chelsea languishing a lowly 14th in the Premier League table, just two points above the relegation zone.
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