Chelsea boss Jose Mourinho values Belgium playmaker Eden Hazard at £200m after reported interest from Real Madrid.
Alan Pardew is weighing up chasing a big-name summer signing to boost Crystal Palace's profile.
The Spain striker has struggled to justify his £50million price tag since his move from Liverpool in 2011.
Torres has been linked with a return to La Liga, but he insisted he wants to impress the new man at Stamford Bridge.
"I want to stay, I want to honour the contract I signed, keep winning titles and I'd like to be the best in my position," he said in an interview with Spanish newspaper AS.
"There is no better place and better conditions than with Mourinho at Chelsea."