The Owls head coach blamed 'bad translation' for rumours linking him with a move to the Premier League.
The Sheffield Wednesday head coach appeared to leave himself open to move to England's top flight, and was quoted as saying: "We'll see what the future holds, if there will be an invitation from a Premier League club - there are already some whispers".
His alleged comments caused concern among the Owls' fanbase, but after watching his side record their fourth consecutive league win against Blackburn on Tuesday, Carvalhal told BBC Radio Sheffield that he was badly misquoted.
"I can give £1000 if they discover the word Premiership in the interview," the 50-year-old said, adding that the 'whispers' he'd referred to were in relation to a return to the Portuguese top division.
"This will translate very bad because he asked me about some rumours about going back to Portugal. He asked me about this and I said 'no I’m okay I’m okay in England and my priority is to stay in England'.
"I am not planning to go back to the first league - not to the Premiership... first league means first league in Portugal. The people who translated the situation did a bad translation."
The length of Carvalhal's Hillsborough contract was never disclosed, and after leading Wednesday comfortably inside the play-offs with six games remaining, the Portuguese is likely to be in high demand this summer.
Carvalhal added that it is "not necessary" to talk about his future until the season is over, though one thing that will concern Owls supporters is his tendency to spend only a short amount of time in charge a club.