The 20-year-old joined the Trotters on a season-long loan and went on to make 21 appearances last term.
Benfica loaned out the Brazil-born forward soon after signing him from Real Madrid last summer.
But after discussing his future with Benfica coach Jorge Jesus, the Spain Under-20 international is hopeful of forcing his way into his first-team plans.
"A return to Bolton on loan has not part of my plans," he told the Portuguese press.
"My aim is to continue at Benfica because I believe I have the quality to fight for a place in the starting XI.
"That battle will be hard because of the level of my team-mates but I have progressed much during the last season.
"I have spoken with the coach and I believe that I have a genuine chance to carry on at Benfica."
Rodrigo played for Real Madrid's reserves during the 2009/10 season but failed to earn a first-team appearance.