The Dutchman is currently in charge of Turkey, but is well liked at Stamford Bridge after his brief stint at the club in 2009, and owner Roman Abramovich regularly seeks his advice regarding football matters.
Cees van Nieuwenhuizen, Hiddink’s agent, said: “He is focusing on his job and he likes what he is doing. He said also in his column on Saturday in De Telegraaf, the Dutch newspaper, that as long as he is in the race for the European Championship with Turkey, he would continue to focus on that.
“Once that is finished, he will start thinking about his future.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.