Modric is currently on international duty with Croatia, where he briefly discussed his Real Madrid future.
"It's the same as with the national team. I go from match to match and then we'll see what happens," he said.
"Of course I'd like to stay at Real Madrid. However, I am aware that I am at a certain age and the club must do the best for everyone. As long as I feel that I am an important part of Real Madrid, I would like to stay.
"When that is no longer the case, I will look for new challenges". However, this issue is not yet on the agenda."