After Ronaldo departed the Santiago Bernabeu for Juventus in 2018, Marcelo was one of the Los Blancos stars tipped follow after full-back Alex Sandro was linked with an exit in Turin.
The Brazilian has seen his game time drop in the past few seasons, especially with the emergence of French full-back Ferland Mendy this year.
However, Marcelo insists he never had the desire to leave the Spanish capital, where he hopes to finish his career.
"I don't want to leave and I don't think Madrid would let me anyway," he told Fabio Cannavaro during an Instagram Live chat on Friday.
"I'm really happy here. Since I came here with my family, it's been incredible.
Click through the gallery to see the 11 players linked with exit at Real Madrid.
"I don't really know if it's true that Juve wanted to sign me to be honest."
The 31-year-old noted the reaction from the Serie A club's fans to the rumours was positive.
"A couple of years ago I heard that I'd signed for Juve, that I'd already pulled on the Juve shirt and that I couldn't live without Cristiano," Marcelo said.
"People invent a lot of things. It was all fine with me, as I saw that some Juve fans quite liked the idea of me joining."