The flamboyant coach has made it clear that the veteran defender's services are no longer needed by the Liga champions, and has advised him to move on
The centre-back moved to the Santiago Bernabeu from Chelsea in the summer of 2010 and quickly became an important first team member.
However, the 34-year-old lost his starting berth amid a string of injuries last season, and Mourinho is eager to offload Carvalho this summer.
"Ricardo is not part of our plans for the season," Mourinho stated at a press conference.
"It is up to him whether he wants to continue playing football or stay at Real Madrid and meet his contractual obligations and practically end his sporting career.
"A lot of teams are interested in Ricardo. He is a quality player and there is interest in him. There are various teams from different leagues who have shown an interest in him."
Carvalho, who has recently been linked with a move to QPR, has a contract with Madrid until June 2013.