The Spanish international has been touted with a move to Liverpool or Monaco - having fallen into fourth place in the strikers' pecking order at El Santiago Bernabeu.
"It looks like I am the one saying that I want to leave, but I am not. I am very happy here," Morientes explained.
"I want to make it clear to all these people who are speaking for me and saying how I am feeling, I am fine and leaving has never entered my thoughts.
"I understand that when a team needs to sign a player they will look around for people that are not playing very much at their current club.
"It is flattering that I am being linked with all these different clubs, but I am honestly fine where I am.
"I want to stay here at least until my current contract finishes, that is what I hope."
Morientes returned from a highly successful loan spell at UEFA Champions League finalists Monaco last season with the promise of first team football under Jose Antonio Camacho.
But the trainer's resignation and the signing of Michael Owen has seen Morientes slip back to fourth choice to play up front.
"I am not going to discuss whether Owen deserves to play ahead of me," he continued. "You will have to ask other people about that.
"This is not a situation that I envisaged, but it has happened, so I just have to get on with it and train hard and wait for my chance."
Morientes made 42 appearances and scored 22 goals during his loan spell for Monaco last season, but has yet to start a game for Madrid this season
One minutes he wants to leave and now he says he doesn't, come on Fernando make your mind up!
