The Brazilian has admitted his desire to return to the club he represented with distinction as a player within in the next 10 years
The Brazilian spent 11 years at the Santiago Bernabeu as a player, winning four Liga titles and three Champions League trophies among a host of other honours.
And the 40-year-old, now in charge of Turkish outfit Sivasspor, wants to return to the Spanish capital to lead los Blancos.
"To train Real Madrid within about 10 years is a dream that I have," he is quoted as saying by Marca.
Madrid face Schalke in the last 16 of the Champions League on Wednesday and the former Anzhi man was warned his old side to be wary of Jens Keller's side and cooled talk of a treble.
"Real Madrid are very good on the ball but Schalke are dangerous on the break," he said.
"When we were going for three competitions during my time, we were left without any. You have to go slowly. You cannot think that Real Madrid are the best team in Europe."