Courtois has yet to put pen to paper on a new contract with Chelsea, where his current deal has only a season and a half to run.
The situation is complicated because of the fact that his two children live with their mother in Madrid.
Courtois previously played for Atletico Madrid, so is no stranger to the city.
Barcelona agree deal for Bayern Munich midfielder Vidal
03/08/2018 AT 21:29
Thibaut Courtois will play for Atletico Madrid against parent club Chelsea
Image credit: PA Sport
In an interview with Sport Foot Magazine, he acknowledged he would be interested in a return to Madrid, saying:
"My personal situation is related to Madrid.
"You know, my two children live there with their mother and I talk to my daughter every day on 'Facetime.'
"She often tells me that she misses me, but my son is still very small to communicate that way.
"Every time I have an opportunity, I try to make a trip back to Spain because this situation is not always easy.
"Yes, my heart is in Madrid, it's logical and understandable."
Chelsea goalkeeper Thibaut Courtois watches the ball go wide against Liverpool
Image credit: Getty Images
He clarified that he might welcome a move back to Madrid, to Real:
"If Real are really interested, my personal situation could affect things, yes.
"The family aspect is priceless."I understand the rumours, but I don't pay much attention to that, I'm focussed on Chelsea.
"If Real Madrid want me, they have to contact Chelsea, but they never have.
"The truth is that one day I will return to Madrid; I loved that city and spent three wonderful years there."
However there is hope for Chelsea, as Courtois said he is not desperate to leave London as yet:
"When I left, I cried, and my first days in London were not easy: it was colder, more businesslike... Now I feel very much here.
"If the long term is in Madrid, the short term is very much in west London.
"Chelsea and I agreed to meet in February because in January the club had more urgent issues to deal with.
"There is no hurry, I have a contract until 2019 and normally there is no problem.
"I am going to renew, I am happy here and I see the club still going in the direction of wanting to win many titles."
Griezmann signs new deal with Atletico after rejecting Barca
18/06/2018 AT 21:49
Real confirm Rodrygo transfer for 2019
15/06/2018 AT 16:12