Claudio Ranieri said on Tuesday he has turned down the vacant Italy manager's job, after the four-time world champions sacked Luciano Spalletti, and will stay on with AS Roma as their senior advisor.
Former Napoli coach Spalletti, 66, announced his own dismissal on Sunday following Italy's 3-0 drubbing by Norway in their opening World Cup qualifier on Friday.
Ranieri, who recently retired for a second time after his spell at Roma last season, said he was honoured to have been offered the job by Italian Football Federation President Gabriele Gravina.
"I thank President Gravina for the opportunity, a great honour, but I have reflected and decided to remain available to Roma in my new position totally," he told Italian news agency ANSA.
"The Friedkins (Roma owners) gave me their full support and backing for whatever decision I had made regarding the national team but the decision is mine alone."
Ranieri helped Roma finish fifth in Serie A last season to qualify for the Europa League. The 73-year-old Italian has been replaced by former Atalanta manager Gian Piero Gasperini at Roma.