The Germany international has fallen out of favour at the Santiago Bernabeu this season, making just three league starts for Carlo Ancelotti's men.
And Khedira has now confirmed that he will depart the Spanish capital at the end of the current Liga campaign.
"This is not a decision against Real, but I want to find a new challenge in my career and continue to develop myself," he told Kicker.
"I've had a great time in a great team and I will do everything I can to contribute in the forthcoming weeks."
Arsenal, Chelsea, Manchester United and Schalke have all been linked with a move for Khedira, but the 27-year-old insists his destination is yet to be decided.
He added: "There is no agreement with anybody."
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