The 21-year-old Belgium international has spent the last two seasons on loan to Atletico Madrid and agreed a third loan spell for the current campaign in June.
After winning the Copa del Rey last season, Courtois was expected to challenge Cech for the number one spot at Stamford Bridge but instead found himself out on loan again.
Courtois revealed the Premier League club wanted to send him out to another English top-flight club, but he only had eyes for a third spell at the Vicente Calderon, and is confident he will eventually run the Czech Republic international close for his place.
"The club (Chelsea) and Jose Mourinho wanted me back for this season," he said. "They also considered the option of sending me out to a team in the Premier League.
"But I was not interested in this option, I feel good in Madrid and wanted to play in the Champions League with Atletico.
"I was not afraid of fighting for a spot with Petr Cech. I have no fear of anyone, I believe in my qualities."
Courtois believes another loan spell will be a benefit to him rather than spending a season on the substitutes bench in the Premier League - especially with the FIFA World Cup to come next year.
"I could have gone (back to Chelsea) and it may have worked out perfectly, but then again I may not have been playing and could have risked losing my starting place with the national team," he added.
"It would have been a risk for the World Cup.
"Next year? I can afford to take more risks. But for now, the important thing for me as a young player is to reach a higher level."
Courtois made 37 league appearances for Atletico last season and has been an ever-present in La Liga this campaign.
