Capello to retire after Euro 2012
Italian Capello, 64, was quoted by Sky News as saying he would leave his job after the finals in two years time - providing England qualify.
Asked if he would be leaving after Euro 2012, he replied: "Absolutely. Yes. We have to qualify first of course but after that I will be too old. I want to enjoy my life as a pensioner."
Capello has been England coach since January 2008 and signed a new contract before the World Cup in South Africa.
However, he was severely criticised following the team's woeful World Cup campaign which ended with a second-round defeat by Germany.
They have started their Euro 2012 qualifying campaign with two victories over Bulgaria and Switzerland and look a good bet to reach the finals.
The FA said in a statement recently that it would prefer an Englishman to manage the team again after Capello's departure.