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.
"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."
"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."
