The 63-year-old led la Roja to World Cup glory in South Africa two years ago but could pay the price for a shock group-stage exit in Brazil
The 63-year-old's position has been called into question because of la Roja's shock World Cup elimination before the conclusion of the group stage, after devastating defeats at the hands of Netherlands and Chile.
Spain did, at least, manage to round off their disappointing campaign with a 3-0 win over Australia on Monday to avoid the ignominy of finishing bottom of Group B, but Del Bosque admitted immediately after the game in Curitiba that he has yet to decide whether to step down.
"We have time enough later to decide my future," the former Real Madrid boss told Telecinco. "But it will probably be sorted within the next few days."
When pressed on the the precise timeframe during his post-match press conference, Del Bosque replied: "I have no deadline fixed for myself. We will talk and find the best solution for Spanish football, without any drama.
"The future of the national team is safe and sound, whoever the coach is. We must keep calm ahead the future.
"We have been leading the Fifa world rankings for the last six years and I think this generation created a kind of football school.
"It was our turn to lose but we do so with our heads held high and another deserving team will take our place."
Del Bosque was adamant that whether he stays on or not, Spain do not need to completely revamp their squad in order to reclaim their place at the summit of international football.
"We have ended our participation admirably and the players gave their best [against Australia]," he told Telecinco. "After the opening minutes we took the control of the game and we have been better than them.
"We have performed below expectations at this World Cup and had two great rivals, Netherlands and Chile, that played really well. The merit is all theirs.
"But there are still a lot of players in this squad that can give a lot to the national team and we can't dismiss anyone because of their age.
"But we will be keeping an eye on what is coming through from underage level."
David Villa, Fernando Torres and Juan Mata got the goals as Spain ensured that Australia finished their World Cup campaign without a single point.