The Senegal international had been lined up as a replacement for Enzo Fernández, who left Chelsea for Manchester City in a £125 million deadline-day move.
Chelsea had reached a £47 million agreement with Monaco, with Camara expected to sign a six-year contract with the option of a further year, only for the French club to pull out of the deal at the last minute in what was described as an extraordinary U-turn.
Chelsea remain linked with the midfielder, as do Liverpool, and hopes of reviving a move in January have been raised after Monaco chief executive Thiago Scuro outlined the club's transfer plan.
To comply with French football's financial rules, Scuro said Monaco want to sell former Arsenal striker Folarin Balogun in the winter window, which would create the financial room to let Camara stay at the Stade Louis II until the end of the season.
"The original plan is to find a solution for Balogun. If we find that, it will give Monaco the opportunity to keep Lamine and Golovin until the end of the season," Scuro told RMC Sport.
"That is the ideal plan, but we can't control the decisions and what will happen in the winter."
With no guarantee a buyer for Balogun will be found, Monaco's position could yet be forced by a fresh offer for Camara when the window reopens. The player himself, speaking for the first time since the Chelsea move collapsed, said he had moved on from the disappointment.
"There was a possibility I could leave," Camara said before Monaco's draw with Strasbourg last Saturday.
"It didn't go through at the last minute and that's part of football. I've turned the page and am focusing on the season. I can help the team a lot. Football moves fast. Maybe other opportunities will come along. But for now, I'm staying focused on the season with Monaco."