Rafael Benitez said he would like to go back to the Premier League in the future but insists there is "no chance" of an imminent return.
The Spaniard left Newcastle United following the expiry of his contract at the end of June before joining Chinese Super League club Dalian Yifang – a move Magpies managing director, Lee Charnley, said was motivated by money.
Everton and Arsenal are in the market for new managers after recently sacking Marco Silva and Unai Emery respectively, while West Ham boss Manuel Pellegrini is under intense pressure.
Benitez says he remains open to a return to the English top flight but has no intention of leaving China just yet.
"Obviously in the future I would like to come back to the Premier League, but at the moment I must be very clear, there is no chance I will come back now," he told Sky Sports' Monday Night Football.
"I am happy, really pleased, they trust me, we have a lot of staff working on a big project.
"We want to leave a legacy, it's a challenge for me, and I'm learning a lot, it's a great experience, and I'm quite happy at the moment."
Benitez enjoyed a successful spell in charge of Liverpool between 2004 and 2010, guiding them to Champions League success in 2005, before leading Chelsea to the Europa League as caretaker boss in 2013.