The Spaniard currently sits fourth in the drivers' standings, but is 99 points short of leader Nico Rosberg with seven races remaining.
And Alonso concedes has not lived up to his lofty expectations.
"Our season has been frustrating because we had high hopes with this year’s new regulations and starting from zero with all the other teams we thought we could have an advantage with all our facilities and input from everybody," he told Sky Sports.
“But we have found ourselves not in the right position and not competitive.
"We are further away from the leaders than during any other season this year, we are sometimes one-and-a-half seconds away from Mercedes."
Team principal Marco Mattiacci confirmed last month that Ferrari intended to retain both Alonso and team-mate Kimi Raikkonen for 2015, and the two-time world champion has no designs on leaving the team soon.
"It's not my intention at the moment to move, I want to win here and finish the job that we started some years ago and we will see what the future comes," he added.
"There has been a lot of talk since last summer but from my mouth there never came any interest to leave Ferrari or any words saying l would join another team.
"There was a lot of speculation, which is not disturbing but it created a little bit of tension and stress.
"Yet you also feel happy and proud that the best teams have an interest in you and say so in public."
The Formula One season continues at the Italian Grand Prix this weekend.