Norway are currently seeking a new man to lead the side forward following the departure of Age Hareide, with ex-Wimbledon manager Egil Olsen currently occupying a caretaker role.
However, 35-year-old Solskjaer, who scored over 100 goals for United - including the last-gasp winner in the 1999 Champions League final - but had to retire prematurely with a knee injury, feels he still has much to learn and wishes to continue his work with the Reds's reserve team.
"I did not think it was the right time for me to say yes to the offer," he told the Daily Mail. "But of course it was nice to be asked. I work for Manchester United and my career is going in the right direction.
"It would have been exciting to take on a much bigger job than my current job, but I have a job at United."
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