The 46-year-old has worked wonders since taking charge of Atletico in 2011, winning the League title, Europa League, numerous cups and also reaching two Champions League finals.
It will be no surprise if he is targeted by Europe's top clubs in the future, and although Simeone has not ruled out coaching another Spanish club, Real Madrid is a definite no go.
"I will never coach Real Madrid," he told Onda Cero. "It is logical because of feelings. They wouldn't call me either. I am young, maybe someday I will lead another Spanish team."
However the former Argentina international has reiterated his desire to one day coach the national team, but believes he has a lot of improving to do before then.
"At some point, I would like to coach Argentina, but I have to improve as a coach," he added. "I would like to do it in the final stretch of my career."