After a goal-laden two-year spell with Porto, the 27-year-old Colombian international has proved just as prolific in Spain since his €40million switch to Madrid in the summer of 2011.
Falcao has already notched 59 times for Atletico, making him one of the most sought-after front men in world football.
Chelsea and Real Madrid are understood to be leading the chase for his signature, but the player himself claims to be totally focused on Atletico and their pursuit of UEFA Champions League football.
"I have a contract with Atletico for three more years, therefore that's the best option," he told El Mundo Deportivo.
"As a group we have the clear goal of qualifying for the Champions League. If we maintain the same level that we have showed we will achieve our objectives.
"We are not thinking about either (Real) Madrid or Barca, we are focusing on what we can give and on our objectives."
Atletico currently find themselves in second spot in La Liga, four points ahead of city rivals Real but already 12 behind runaway leaders Barcelona.
Falcao added that his decision to move to Spain 18 months ago has proved a very positive one and admits he is pleased to have raised his profile on a global scale, culminating in his inclusion in this year's FIFA world team of the year.
"I have come to one of the big clubs in Spain, in a very important league that is more well-known on the world stage than any I was in with my previous clubs," he added.
"It has allowed me to grow as a footballer, to become known in other parts of the world. It has been a very positive step."