Mourinho's future has been the subject of much speculation after a poor La Liga campaign that sees them lie 11 points behind arch rivals Barcelona with five games remaining.
The Portuguese has consistently skirted the question regarding his future, but when asked if he would remain in the Spanish capital for next season, he replied: "Maybe not."
He added on ITV1: "I don't know but I want to be where people love me to be."
Mourinho's comments will almost certainly put more than one Barclays Premier League club on alert.
Manchester City and Chelsea have both been mooted as possible destinations in the past for Mourinho who managed the Blues from June 2004 until September 2007.
The 50-year-old left west London in acrimonious circumstances after a falling out with owner Roman Abramovich although Mourinho remains Chelsea's most successful manager with two Premier League titles and three domestic cup wins.
Mourinho admitted in his post-match press conference: "I know in England I'm loved.
"I'm loved by the fans, I'm loved by the media that treats me in a fair way, criticising me but giving me credit when I deserve it.
"I know I'm loved by some clubs, especially one, and in Spain, the situation is a bit different because some people hate me.
"Many of you are in this room."
Mourinho, who has also managed at Porto and Inter Milan, added he will discuss his future at the end of the current campaign.
Mourinho admitted he was disappointed to not make the final, but defended his tenure at the club.
"It's not my culture to be satisified by not winning the competition but we know that its a difficult competition, you don't win it when you want to, you win when things go your way," he said.
"I don't live for near achievements, nor does this club. But after the club won the three European Cups [in 1998, 2000 and 2002] Madrid entered a period of not even making it to the quarter finals.
"We weren't even seeded when I got here and my first worry was qualifying from the group stages.
"Sergio Ramos came here in 2005 but didn't play a Champions League quarter final until I got here. I have got the club to three semi-finals and earned them a lot of money in bonuses."
Madrid take on city rivals Atletico in the Copa del Rey final next month and Mourinho is focusing on closing the season on a high.
"I didn't make a decision because I have a contract. But more than a contract, because in football contracts you break it when people want to break, is the respect I have for the club and the respect I have for the president," he said.
"That's why I want to play the final, I want to finish the season, I want to try to win the final, I want to try to finish second and at the end of the season I want to sit in front of Florentino Perez - my president, my friend - and decide the best for me.
"I like the club, I like the president, I need to be honest and fair and at the end of the season I speak."