The Spain youth international has attracted interest from a number of Premier League clubs, but Liverpool and City lead the race to sign the Malaga playmaker.
But Isco has refused to be drawn on speculation linking him with a move away from the La Liga club.
Speaking to Radio Marca in Spain, Isco said: "I'm concentrating only on Malaga. Malaga have made a good start in the Champions League, as have I, so everybody is speaking about that."
The former-Valencia playmaker has been one of Malaga's best performers so far this season, especially in the Champions League, a competition the La Liga side have started excellently in.
And the 20-year-old weighed into the Lionel Messi versus Cristiano Ronaldo versus Radamel Falcao debate.
"Falcao, Ronaldo and Messi are the best in the world, but I prefer the Argentinian," said Falcao.
If Manchester City get their way Isco and Falcao could be teammates at the Etihad Stadium by January. The Premier League champions have been linked with a move for the Atletico Madrid striker, and Roberto Mancini has also reportedly taken an interest in Isco.
But Liverpool, Manchester United and Arsenal are all thought to be monitoring the attacking midfielder as well, as are Serie 'A' giants Juventus.
Liverpool have been strongly linked with the midfielder, and Brendan Rodgers is thought to be keen to strengthen in January following a disappointing summer transfer window.
The Anfield club are rumoured to be interested in a winger, with Danny Sturridge, Theo Walcott and Dries Mertens linked, but Isco could be too good to turn down for Rodgers.
Malaga confirmed earlier this week that Isco is available for £17m because of a buyout clause in his contract, and Manchester United, Arsenal, Liverpool and Manchester City could move early in January to sign the Spain under-23 international.
Arsenal already have a talented Spanish playmaker from Malaga in Santi Cazorla, but they could go back to snap up Isco. Arsene Wenger has a sizeable transfer kitty for the next transfer window, and £17m is likely to be well within his budget.
Manchester United signed Shinji Kagawa in the summer, but Sir Alex Ferguson is still believed to be interested in strengthening his Old Trafford midfield in January.