Low will step down as Germany boss after this year's European Championships after the German Football Association (DFB) agreed to his request to leave the position early.
His contract originally ran to the 2022 World Cup but Low will instead depart after the rescheduled Euro 2020 tournament which starts in June this year.
The 61-year-old has been at the helm since 2006 when he replaced Jurgen Klinsmann and guided his country to World Cup success in 2014.
Speaking at a media conference on Wednesday ahead of World Cup qualifiers with Iceland, Romania and North Macedonia, Low quashed talk of a job in Spanish football.
"I was thinking about it a little while ago. But this hasn't anything to do with a club," Low said.
"You could use Spanish in the whole world. In South America, Europe and the USA you could always use it. After English, it is a very important language.
"I like the language and wanted to learn it at some point. Maybe I will have the chance to deepen that in the future. But that hasn't anything to do with a Spanish club, it is a useful language to know, though."
Low has taken charge of 189 games for Germany and overseen 120 wins, 38 draws and 31 defeats with a win percentage of 63.49.
The build-up to the Thursday's clash with Iceland in Duisburg has been dominated by talk of who will succeed Low, but midfielder Emre Can insisted the players have not been distracted.
"I think for us players it's almost irrelevant. It's more a topic for the media," Can said.
"Football players are always under pressure when we play for the national team and participate at tournaments. It doesn't matter if there is debate around the coach or not.
"The coach has made his decision and for sure he is highly motivated for the European Championships, obviously we want to play a successful European Championships for his farewell."
Hansi Flick, who won a remarkable sextuple in his first year as Bayern Munich's head coach, has been mooted as the DFB's preferred successor to Low.
The 56-year-old was Low's assistant coach for almost eight years, from August 2006 to July 2014, leaving his role after Germany's World Cup triumph.
Bayern have been the form side in Europe in Flick's time in charge, and despite a shock exit in the DFB-Pokal earlier this season, are still well in the hunt for a Bundesliga and Champions League double.
However, Bayern and Germany midfielder Joshua Kimmich does not expect his club boss to instead become his national team manager.
"Hansi Flick has a contract and we are incredibly successful here," Kimmich told Bild. "That's why I do not assume that he will."