Reyes travelled to London last week in the hope of negotiating his permanent move to Madrid, but he remains an Arsenal player.
"No agreement has been reached so far," admitted Reyes. "But I hope the situation will be resolved as soon as possible for my benefit.
"Next season I hope to win everything - and if it's with Real Madrid even better."
The 23-year-old moved to Arsenal from Sevilla in January 2004, but struggled to adapt to English life.
"The rain was one of the main reasons why I didn't adapt well to that country," he said.
