The Italian defender has been linked with various teams with his contract due to run out at the Bernabeu in the summer, but also revealed that he would not find it a huge decision to retire altogether.
Milan have been strongly linked with an approach, but Cannavaro has denied that anything has happened and thinks that he can step up when leaving Madrid and not only down as many pundits are stating.
"The supposed contacts with Milan are only rumours," Marca quote him as saying.
"Nobody has called me, but anyone who wants to, knows how to do so, and knows that they have to go through my representative.
"I have a contract until June with Real Madrid, who are not the last club in the world.
"Now I am only thinking about having a good end to the season, because we have yet to overtake Barcelona."
If a deal that he likes is not forthcoming, then Cannavaro has admitted that stopping playing is also an option that is open to him.
"It would not be a huge drama because I have had a great career," he added.
Lucas Brown, Goal.com