Hudson-Odoi, who was the subject of a failed bid of £35m from the Bavarians in the January transfer window, played 23 times in all competitions for Chelsea last season and scored five goals.
Hudson-Odoi handed in a transfer request when the Germans came calling but he signed a new five-year contract for Chelsea in September and has since scored one goal and assisted three more in his four matches this season.
"The club have done so much for me and I'm so thankful for that," he told BBC.
"The decision that I made was a very good one for me and my family. We all thought that it was the right club to be at.
"I've been here all my life, so there's no need to change yet. My mum and dad are happy where they are and I'm happy where I am."
With Chelsea unable to sign players because of their transfer ban, Odoi believes it was a blessing in disguise for the team’s academy as Fikayo Tomori, Mason Mount and Tammy Abraham have all forced their way into Frank Lampard’s first team plans.
He added: “The transfer ban is a good thing for us because it gives more players the opportunity to play. But at the same time, I think even if there wasn’t a transfer ban, the young boys still would’ve pushed for minutes. We’re all working hard and as much as possible to get opportunities.
“The manager is obviously rewarding all the players, for who was working hard, who was training well, and who was playing well. It doesn’t matter if you’re one of the best or one of the worst as long as you have the right mentality and the right work ethic.”
