Massimiliano Allegri plans to take a year out of football after leaving Juventus - with Maurizio Sarri set to replace him as head coach.
Chelsea have reached a compensation agreement with Italian champions Juve to allow Sarri to return to Italy, with Allegri having long been touted as a possible successor at Stamford Bridge.
But Allegri, 51, appears to have ruled himself out of the running to take over at Chelsea once Sarri departs.
"I am going to take a year off to recharge the batteries and take my personal life back in hand, rediscover after many years the affection of my family, children and friends," he said at an event in Milan on Thursday.
"The last 16 years have felt like being in a blender. You have to take time away from what you usually spend with family and friends.
"I'll use this year to recharge my batteries ahead of the next season."
Chelsea are set to make an official approach to Derby for a deal to bring Frank Lampard back to the club as manager, once Sarri has left the club.
Lampard had stated he would discuss his future with the Rams after they failed to beat Aston Villa in the Sky Bet Championship play-off final.
Whoever does replace Sarri will not be able to sign any new players, as things stand, with Chelsea having appealed against their two-window transfer ban imposed by FIFA to the Court of Arbitration for Sport.
Chelsea will start their 2019/20 Premier League campaign with a game against Manchester United at Old Trafford on Super Sunday, live on Sky Sports, after the fixtures were released on Thursday morning.