"I have said many times that my dream is to end my career at Napoli. Having said that, I am very happy in Madrid," he told Tuttosport.
"We will start discussing it in December, I still don't know how this situation will end up."
On facing former club Juventus next week, Cannavaro also remarked: "I expect to receive the same reception in Turin as any other former player, in other words to get jeered and insulted. If that should happen, then it would not cancel out the two best years of my career, the time when I played my best football.
"I am truly proud to have played for Juve and consider myself fortunate to have had such an experience. That team was so strong and packed with champions that it was an honour to be among them."