The legendary Spanish goalkeeper has been a mainstay of the first team at the Bernabeu for a decade.
Casillas told his club’s official website: “It would be a dream come true and a real joy to finish my career at a club where I had the privilege of starting out when I was just nine.
“I have a contract until I’m 36 and my dream is to finish when I’m 39.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.