It is believed Hiddink would prefer a short-term deal, as he is keen on leading Russia to the 2010 World Cup in South Africa.
“I must say that this is an exceptional situation,” he told Reuters.
“If it was any other club aside from Chelsea my answer would be a straight ‘no’.
“But Chelsea is different because I have good relations with the owner. So I would like to help them in this situation if I could.
“But this would only be for the next two or three months until the end of the season.
“Of course when Russia would play (World Cup qualifiers) I would go there to coach them during that (international window) as there won’t be any (league) games during that time.
“I have already done that (combining two jobs) a couple of years ago when I was coaching Australia and PSV (Eindhoven), so I’m familiar with the situation and what it takes.
“I will not leave my job with the Russian national team. It’s out of the question.
“When I took the Russia job it was a long-term project and I don’t like to leave it unfinished.”
He continued: “I did get a phone call from them (Chelsea management) and we discussed the situation but we haven’t come to a final decision just yet.
“But the situation can change any day or even any hour.
“I was planning to fly to Europe from Turkey at the end of the training camp (on Wednesday) but I can change that and I can go directly to Moscow to meet with Mutko (Russian football chief).
“In any case, we’ll meet in the next few days and will talk about the whole thing.”