After being sacked by Chelsea in the summer, the 49-year-old was one of the leading candidates to replace Julen Lopetegui, who was dismissed by Madrid two weeks ago after a poor run of results.
But Madrid opted not to bring Conte to the Santiago Bernabeu and instead promoted Santiago Solari from their Castilla side to manage the first team for the remainder of the season.
Im calm, I always try to update myself and talk with other coaches, Conte told Sky Sports Italy.
We are waiting for next year.
When asked about why he did not become Madrids manager, Conte said: For the type of coach I am, I prefer to wait for June to find a new job.
The problem today is that for a coach my level is better to wait than to take a train in progress.
Conte won the Premier League title in his first season at Chelsea but despite following that up by winning the FA Cup in May, it wasnt enough as Roman Abramovich opted to replace him with Maurizio Sarri.
More: Chelsea FC