Andre Villas-Boas says he will "most likely" take a year off after leaving Zenit St Petersburg at the end of this season.
The former Chelsea and Tottenham boss said in September that he would leave the club when his contract expires in June.
But despite links to the Valencia job vacated by Gary Neville last week, Villas-Boas said he's ready to take a sabbatical from coaching.
He told Zenit's official website: "No, my decision is taken for the end of the season, I've booked my vacation.
"It was wonderful to be here, I'll always consider Russia my home, Zenit have been wonderful, the board and the president, Mr [Alexey] Miller have been wonderful to me and I can only thank them and I'm very grateful to them and the club.
"I will go back to my family in Portugal and mostly likely stop coaching for one year, this is a decision I have taken with my family and nothing will change it."