The 25-year-old France captain announced last week he is leaving PSG at the end of his contract this summer, without specifying his destination, and Madrid are poised to sign him after years of failed attempts.
"He's Madrid's next season, yes," Tebas told Argentine daily sports newspaper Ole on Monday.
"If they've signed a five-year deal, he has five seasons of opportunity (to win the Champions League)."
Mbappe is set to join a star-studded Madrid team led by Brazil's Vinicius Junior and England international Jude Bellingham.
Los Blancos strolled to the Spanish title and are in the Champions League final at Wembley against Borussia Dortmund on June 1.
"(Mbappe) is one of the best players in the world, but Vinicius and Bellingham are there too, Madrid will have a great squad," continued Tebas. "But that does not guarantee you will win leagues."
Mbappe is PSG's all-time record scorer with 256 goals, having joined the club from Monaco in 2017 for 180 million euros ($194 million).
With PSG he won six French league titles but failed to earn Champions League glory, finishing as runners-up to Bayern Munich in 2020.
By joining record 14-time winners Real Madrid, Mbappe would increase his chances of finally earning club football's most prestigious trophy.
