The 34-year-old's departure from Los Blancos has been officially confirmed, with the left-back leaving the reigning La Liga and European champions after 15 years at the club.
Speaking during his farewell speech, Marcelo revealed that he was not considering retirement and would continue his playing career for the 2022-23 campaign.
According to Marca, the Brazilian has interest from Qatar, the United Arab Emirates and Turkey, with his agents already receiving a number of calls from proposed new clubs.
Marcelo is believed to be open to the idea of making the move to Turkey, which could potentially see him play European football once again during the 2022-23 campaign.
However, according to Mundo Deportivo, the idea of remaining in La Liga also appeals to the defender, as his family are settled in Spain.
The report claims that newly-promoted Real Valladolid, Getafe and Rayo Vallecano are all keen to sign the defender, although he would have to accept a significantly lower salary at those three clubs.
"I will not retire, not now," Marcelo said at his farewell. "I feel I can still play. Facing Real Madrid? It will not be a problem. I am a big Madridista but I am also a big professional.
"Today is the happiest day since I've been in Madrid because as I leave I realise I've left a legacy. I did not want to stay for another year or two out of pity. I'm always going to support Real Madrid and together we've decided to leave it well, and through the front door.
"I don't feel like a legend. Life doesn't end here. I'm going to continue playing. I believe I can continue but I'm not thinking much about the future. The most difficult thing is to say goodbye. To put on this shirt has been the most beautiful."
Meanwhile, Real Madrid president Florentino Perez said: "We wanted to pay a passionate tribute to our great captain. We speak of a legend, the player with the most titles in the history of Real Madrid.
"Dear Marcelo, you have accomplished all the dreams. You have won absolutely everything. You are without doubt one of the best full-backs in the history of world football, a unique player."
Marcelo made 544 appearances for Real Madrid after joining from Fluminense in 2007, contributing 37 goals and 103 assists in the process.
The Brazilian leaves Los Blancos having won seven La Liga titles, two Copa del Rey crowns and five Champions League trophies, in addition to lifting silverware in the Spanish Super Cup, UEFA Super Cup and Club World Cup.
However, he struggled for regular action during the 2021-22 campaign, featuring on just 17 occasions in all competitions, with Ferland Mendy becoming the club's first-choice left-back.