The 21-year-old former 1899 Hoffenheim centre-back completed a €20million five-year deal with the German champions in January after ignoring interest from the Premier League winners.
Sule, who was speaking while on international duty with Germany following their 1-1 draw with Denmark on Tuesday, said it was an easy decision for him to stay in the Bundesliga.
He told Bild: "There was interest from Chelsea, but Bayern are among the top three clubs in the world so I didn't have to think about it long.
"Going to England would have come too early for me. No club from England could have stimulated me as the offer from Bayern did." The young German impressed as Hoffenheim finished fourth in the Bundesliga this season and won his second cap for his country this week.