The centre-back is under contract at Madrid – whom he joined a decade ago – until 2022, and while reports in Spain suggest there have been negotiations over a new deal, it remains unclear if he will sign an extension.
Ahead of the first leg in the Spanish capital, the France international made clear that speculation surrounding his future will not overshadow a pivotal run-in for Los Blancos, both at home and in Europe.
"My future is clear: my focus is on the end of the season," Varane told the media on Monday.
"We are in a very intense moment and we have to be focused on the games that lie ahead.
"It is normal that the focus is on the end of the season. The message to the fans is that I am 100 per cent committed to the team.
"We have some challenges that encourage us a lot. I'm focused on giving it my all on the pitch."
Varane missed both meetings with Liverpool in the quarter-finals while isolating following a positive COVID-19 test result.
Madrid were also without injured captain Sergio Ramos for those games, yet Eder Militao and Nacho Fernandez formed an impressive partnership at the heart of a defense that kept a clean sheet against the Reds at Anfield.
Militao had struggled previously since his arrival from Porto but an extended run of games in the starting XI allowed him to showcase his abilities, a situation Varane can relate to during his own career.
"I talk to him a lot. When I had little rhythm, it was difficult to enter the team," Varane said. "I've been through the situation, too. You have few minutes to demonstrate a lot, and it's complicated. It requires a lot and it is not easy.
"He has a good mentality and is always in a good mood. We see it on a daily basis and know the quality he has - now he has been able to demonstrate it by playing.
"It's very good to have players like him who are positive and always give their all."