Media speculation in Spain has strongly linked the Belgian goalkeeper, who is playing on loan at Atletico Madrid from Chelsea, with a move to the Bernabeu stadium.
"This (rumour) is only an attempt to de-stabilise Atletico," Thibaut's father Thierry Courtois said to Belgian website La Derniere Heure.
"But in any case, I don't think Chelsea would let him leave in that way.
"Thibaut is focusing on Atletico Madrid and the Champions League, that's all."
The 21-year-old Courtois has played on loan at Atletico since signing for the Blues outfit from Genk in 2011.
Atletico, who are second in La Liga, three points behind city rivals Real Madrid, take on AC Milan in the Champions League last-16 return leg at the Vicente Calderon stadium on Tuesday.