Tevez throughout the transfer window had maintained his stand of taking retirement from his childhood club Boca Junior, whom he had joined last season.
Speaking to Radio La Red, the Argentine forward said: "After the loss [to Independiente] we had two days off. I was shaken, like everyone at home. I returned to training and I said 'That's it, it's passed.
"But I was without any motivation. At that moment I thought about a lot of things, even to leave football. It was leave football or continue at Boca.
"One day later Conte called me to go to Chelsea, and I told him no. I wasn't in a good way, and I had to think about a lot of things. It was Boca or retire.
"You realise a lot of things, like family. Since I've come to Boca I live for the club. When you can't reach your objective you rethink a lot of things.
"I had to sit back and look at the big picture, and look ahead and see if I had the will to keep playing or not."
Antonio Conte is desperate to sign a quality striker this summer as he prefers a 3-5-2 formation. For that he would need at least 4 strikers in his squad.
Chelsea currently have just two strikers, Diego Costa and new arrival Michy Batshuayi.
Tevez's rejection would come as a bug blow for the London outfit as they are yet to finalise their squad for the upcoming season.