
Madrid were humiliated 4-0 at home by Barcelona on Saturday to pile the pressure on Benitez after just 16 games in charge.
Zidane has been coaching Real Madrid Castilla for the last 18 months, but was deemed not ready for the step up after a disappointing first season in charge.
El Clasico: Full squad available to Benitez ahead of home game
"I am coach of Castilla and Benitez of the first team. Things are fine at the moment.
"I am with Castilla and if I stay at the club it is to coach Castilla. Last year, at the end of the season, I had the feeling that I still lacked something to take over the first team.
"I am doing things little by little and I am in no rush. The important thing is to be happy day-to-day with what I am doing. Right now I'm at Castilla."
Bernabeu stunned: Real beaten red and blue
The Madrid fans called for club president Florentino Perez's resignation towards the end of Saturday's thrashing.
And reports in Spain had suggested appointing the hugely popular Zidane could help Perez ease the fans' frustration with his running of the club.
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