The France defender addressed the rumours after Les Bleus' 1-0 World Cup last-16 victory over Paraguay, where he was asked about Olise's future amid growing interest from the Spanish giants.
With a smile, Upamecano leaned into the microphone and emphatically declared: "He's staying, he's staying."
The comments come as Real continue to be linked with the 25-year-old, who has enjoyed a stellar first season at Bayern following his arrival from Crystal Palace in 2024. Club president Florentino Perez reportedly views Olise as a marquee addition and the ideal option to complete an attack featuring Vinicius Junior and Kylian Mbappe.
Reports in Spain have even suggested that Los Blancos are prepared to test Bayern's resolve with an offer worth more than 200 million euros, while claims have emerged that Olise would be interested in the prospect of playing at the Santiago Bernabeu, although he is not expected to push for a transfer.
Bayern, however, have remained firm in their stance that the France international is not for sale. The Bundesliga champions consider Olise untouchable and central to their long-term plans, with reports indicating they are already working on a new contract that would significantly improve his salary in an effort to ward off interest from Europe's elite clubs.
Olise's performances at the 2026 World Cup have only enhanced his reputation. The winger has been one of France's standout players, providing five assists in as many matches and playing a pivotal creative role in their run to the quarter-finals.
Despite the speculation, a move to Madrid appears unlikely. Although the record 15-time Champions League winners possess the financial resources to pursue a deal, manager Jose Mourinho is understood to have prioritised the signing of a centre-back and a midfielder before considering further attacking reinforcements.
Real are also said to be wary of damaging their relationship with Bayern by aggressively pursuing one of the German club's most prized assets.
While Olise's long-term future may continue to generate headlines, Upamecano's confident intervention suggests there is little concern inside the Bayern dressing room that the winger will be leaving Bavaria anytime soon.
Jurgen Klopp has revealed the extraordinary lengths Liverpool went to in their failed attempt to sign Kylian Mbappe from Monaco in 2017, describing the pursuit as the club's "most expensive non-transfer."
Benfica are reportedly preparing to make their first official offer for Bayern Munich midfielder Joao Palhinha as the Portuguese club look to bring the experienced international back to his homeland.
Crystal Palace have completed the signing of Spain international defender Oscar Mingueza on a free transfer from Celta Vigo, with the move subject to international clearance.
Atletico Madrid are reportedly closing in on the signing of Sporting CP captain Morten Hjulmand after reaching an agreement for the Denmark international.
