The France international joined Real from Lyon three years ago and has been sharing the striking duties with Gonzalo Higuain this season.
He has been linked with Chelsea and long-time admirers Manchester United at various points this term, and the 25-year-old is prepared to wait to see what the future holds.
"My future? I am fine in Madrid," Benzema told radio station RMC. "But, each year you cannot know what will happen.
"I am under contract until 2015, so we will see."
Benzema also responded to critics of his performances for France, with the forward picked on for not singing the national anthem.
He added: "You could take Zidane as an example, who didn't really sing it. Even if I sing it, I will not then score a hat-trick. To me, it is a dream to play in the French team.
"People expect a lot from me, I am aware of that. On the pitch, I cannot do everything on my own. I cannot get the ball and dribble past eight players. I have made several assists, but I feel it is useless.
"The French team should take more risks. If I play alone in attack, the wingers should make more runs. But we all have to work on that."