The Spanish international has one year remaining on his current deal at the Bernabeau and despite reportedly being offered a new deal, Alonso is yet to commit himself to an extension.
The 31-year old has been in fine form for Madrid this season but his dad, Periko Alonso, insists that his son should take his time over deciding on a new deal.
"What he wants to do is to wait a bit to see what happens and how things go, and then when the time is right, he'll make the appropriate decision," Alonso senior told Marca.
"It's as simple as that - there's nothing else to it.
Alonso has been linked with a return to Real Sociedad, where he started his career, but his father says a that move there is unlikely.
"Going home is difficult and anyway, Sociedad are pretty well stocked right now."