Fulham's drop to the Championship was confirmed at the Britannia Stadium after they were hammered 4-1 by Stoke City in a limp display.
The defeat ended their 13-season spell in the top flight after a turbulent campaign off the field that saw Martin Jol, Rene Meulensteen and Magath all in charge.
With their fate sealed, Magath reiterated his desire to help the club return to the Premier League and said their youth side, in with a chance of lifting the FA Youth Cup this term, could feature prominently next season.
"The first thing for me is to look at our academy and look for players who can join us in the next season," he is quoted as saying by The Telegraph.
"I will be going to the Youth Cup final (second leg against Chelsea) to start planning the future. I don't think to do anything else except stay at Fulham and build a new team - that was the idea when I came.
"It is clear we have to change something. I want to have success with Fulham in the next years. I will talk about the situation with the owner and we will start to come back.
"Fulham are a club with a very good youth academy so the club have to build up not only for youth teams but build for the professionals."
‘After Manchester City’s recent form, maybe they’re the underdogs against Manchester United!’ Former Red Devils defender on this weekend’s derby
‘Arteta, Alonso, Emery, me… none of us were physical players – we needed the understanding of the game. That probably helped us move into management’: Premier League boss reveals reasons for natural career progression
