The Dutchman, who took South Korea to the World Cup semi-final in 2002, has suggested his time with the national team is up, but dismissed suggestions he is set to retire
Hiddink was the subject of much criticism from Turkish press and players alike following the 3-0 home defeat to Croatia in the play-off first-leg, and he wasn’t able to turn the deficit around as the two sides drew 0-0 in the return match on Tuesday.
Speaking after the match in Zagreb, Hiddink told the media: “This could be my last game as Turkey's coach.
"I am happy about young players' performances. Euro 2012 could have been a great experience for them.
"The players I chose played with dedication. Even the players in their early 20s had good performances.
"Sinan Bolat had the perfect match, both tactically and mentally, and the other players were fine too.
"I don't have any regrets about my Turkey experience. I worked for future of Turkey but I think this is my last match with this team - there is a high probability of that.
"I want to have a rest. I haven't decided my future yet, but it is too early for a new start at a new team."
Turkish press are reporting that the FA will make a decision on Hiddink’s future on Thursday, but should the Dutchman have his term ended prematurely by his superiors, he will surely have his choice of potential suitors once he is ready to make a comeback.
The man who led South Korea to the World Cup semi-finals in 2002 has continuously been linked with Chelsea since his short-term spell at Stamford Bridge in 2009, however a return seems unlikely at this stage after Andre Villas-Boas was appointed in the summer.
Hiddink recently publicly rejected reports linking him with the Ajax job as the Dutch giants linger in fifth in the Eredivisie, while he has also been reported shortlisted by cash-laden duo Anzhi Makhachkala and Paris Saint-Germain.
NTVSpor are also reporting that the 65 year-old has already had a farewell ceremony with his players and will not be returning to Turkey with the rest of the squad.