Conte, 49, has been without a club since the start of the new season after being sacked by Premier League side Chelsea to make way for compatriot Maurizio Sarri.
However, the Italian tactician was strongly linked with the Real hot seat after Julen Lopretgui's nightmare start to the season and it's been reported that captain Sergio Ramos played a key role nullifying the option.
Ramos was said to have taken his concerns personally to President Florentino Perez before his blunt media statement last month.
When asked if the team would benefit from having an imposing coach such as the Italian, he said: Respect is earned, it is not imposed. Neither a name nor another.
"We have won everything with coaches that you already know, in the end the management of the players is more important than the technical knowledge of a coach."
Real chiefs chose instead to give the job to reserve team boss Santiago Solari on a temporary basis.
And he has now reportedly been handed the position on a permanent basis.
"Hopping on a moving train is not good for top coaches and right now, I don't feel the need to return immediately," Conte said, as quoted by the Mirror.
"Maybe I'll change my mind in two or three months, never say never, but today I'm really convinced that it's best to wait for a project all of my own."
"We've always got to show education and respect when we arrive at a new club, and the same has got to come back from the players, because when these kind of things are lacking, that's when you start having problems," Conte said.
"But I've got nothing to say about Real and Ramos -- my history speaks for itself, both as a footballer and as a coach, and in general, it's a winning story, so I don't have to reply to anybody."