The 32-year-old has spent his entire career with the Madridistas, making more than 350 league appearances and netting 43 times.
However, the veteran is not expected to feature regularly in 2009/10 following the 31-time la Liga champions' summer spending spree on Kaka, Cristiano Ronaldo and Xabi Alonso.
And as a result, the former Spanish international - who has won 15 caps - has been linked with moves to Galatasaray and clubs in both Qatar and Vietnam.
But, according to Marca, coach Manuel Pellegrini has informed Guti that he is part of his plans this season, with the midfielder now set to remain at the club for one final year before seeking a move to the Premier League, where Arsenal are thought to be his dream destination.
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