Mayoral joined Levante last week on a season-long loan, just hours after it was confirmed that Real were re-signing Mariano from Olympique Lyon.
"The Levante project is so exciting and this great family that I see here excites me," said Mayoral.
"I decided to come here, I thought I would not have minutes - at Real Madrid - and with the signing of Mariano it was even more difficult for me, but hey, the important thing is that I really want to play."
Mayoral revealed Levante coach Paco Lopez had been in contact for much of the summer.
"I talked to Paco from the beginning of the summer by phone when he was on vacation, then we did not talk because I stayed and then I talked to him again," he added. "The truth is that I'm happy because everything has happened, it's been at the last minute but the important thing is that I'm really looking forward to it."