The 1998 World Cup winner played for Real from 2001 until his retirement in 2006 and president Florentino Perez appointed him his special adviser after spending a quarter of a billion euros on players last summer.
Asked in an interview with Tuesday's Marca sports daily whether he planned to do any coaching, Zidane said: "No, not now. Let's see in the future but not yet."
"What I want to do is help, I want the best for Real Madrid and this project of Florentino's but you need time to build a project," he said.
Real's spending on players including Cristiano Ronaldo and Kaka has yet to garner the sporting success Perez covets, with the club out of this season's Champions League and King's Cup and still alive only in the domestic league.
"It's true that the commitments I had before Florentino returned prevented me from being closer to the club but I hope next year will be different," he said.
