Allegri, 50, was linked with Premier League side Arsenal and Champions League holders Madrid at the end of last season before opting to remain with the Serie A giants.
Madrid appointed Julen Lopetegui in June following Zinedine Zidane’s departure after Allegri claimed he rejected the chance to succeed the Frenchman at the Santiago Bernabeu.
Reflecting on his decision, Allegri – who arrived from AC Milan in 2014 – told magazine Stile Mese: “I said ‘no’ to Real Madrid because I made a commitment with the president.”
Allegri did concede Madrid the title of the world’s “biggest club” but believes it was the correct call to remain.
“Therefore, my maximum respect for Juventus and given word were why I rejected the call of Real Madrid, the biggest club in the world and the dream for every coach.
“I’d be a hypocrite if I said I wasn’t honoured by their consideration, but I’m absolutely convinced that I made the right decision.”