Current Spain manager Vicente del Bosque has steered the country to World Cup and European success, but has yet to confirm whether he will be staying on beyond Brazil 2014.
Benitez has been mentioned as a possible successor and he concedes it is a challenge that he would consider taking on if the post became vacant.
"I don't rule out becoming the Spain coach, if and when Vicente decides to leave," he said.
"It's something I would envision for further down the line, although to achieve that I have to continue in elite football and keep on doing well."
Benitez is convinced that Fernando Torres still has a lot to offer at international level, despite the Spaniard falling out of favour with Del Bosque following a difficult time at Chelsea.
"I think Fernando will return to the squad," said Benitez. "The decision is completely down to Vicente, of course, but I see the work Fernando does and I think he's coming back."
Benitez is in interim charge at Stamford Bridge on a deal until the end of the season and reports have suggested he could move on in the summer to Real Madrid, where Jose Mourinho's own future appears uncertain.
He would prefer to concentrate on the task at hand with Chelsea than get involved in such speculation, but concedes that it has been difficult to find consistency since taking charge and has pointed to their congested fixture list as a reason.
Asked about Real Madrid, Benitez told Radio Nacional de Espana: "I have a contract until the end of the season with Chelsea and I will do everything possible to help this club.
"Real Madrid also have a coach with an existing contract and that deserves respect.
"As a coach, you always have your heart and I went to Madrid when I was 13, but I do not want to get into that speculation because my words are not always interpreted."
Benitez added: "I am focused on having success with Chelsea. We are a team in transition and we are the team which has played the most games in all of Europe. You cannot do everything you want to do on a tactical level when you only have so much time."