La Roja have endured a dismal World Cup, falling at the first hurdle in their attempt to retain the trophy after suffering humbling 5-1 and 2-0 defeats to the Netherlands and Chile respectively in Group B.
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"We are in full competition and it's not time to talk about my future," the 63-year-old told a press conference.
"I'll do my best for the Federation and for our football. I won't be a hindrance. The Federation has treated me well, I am a staunch advocate of it, but if my presence proves uncomfortable, I will go.
"We still have a World Cup match ahead and qualifying for the next tournament is just around the corner.
"Nothing is decided [about my future]. I'm not a beginner. I know how this works. And we will take the decision considering the football federation and our interests."
Del Bosque struggled to offer an explanation for Spain's demise, simply putting the two defeats down to the nature of the game.
"I cannot find a reason for [Spain's performance] except for the fact that this is football," he continued.
"Rivals surpassed us in the two games. The situation does not allow excuses. You can find many explanations, but if we lost it is because rivals have been playing better football. We have lost by being worse than Chile and Netherlands."
Spain face Australia in their final game of the World Cup in Curitiba on Monday.