The 34-year-old reigning FIFA World Player of the Year joined the Spanish giants shortly after leading the Azzurri to World Cup glory last year, winning the Primera Liga title in his first season with the club.
Some had linked the defender with a return to former club Juventus, who are back in Serie A after being relegated for match-fixing 12 months ago, but Cannavaro said: "In Italy they are saying I will come back but it´s not true. I have always said I am happy at Real Madrid and Spain generally and I am proud to play for this club. I will definitely stay at Real Madrid."
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