The Spanish manager, who is currently without a club, claimed that he would be pleased to make a Reds comeback one day, but is not currently pushing the move out of respect for the club and current boss Kenny Dalglish.
Benitez left Anfield after his contract was ended by mutual consent in 2010 and went on to spend less than a season at Italian club Inter, but has claimed that his heart pines for a new job in England.
Speaking at the Soccerex conference in Manchester, the 51-year-old said: "Every time that I talk about Liverpool. I try to be respectful because of my relationship with the fans and the city.
"I'm a professional and I'm looking for a new job. At this time Kenny is the manager and I have a lot of respect for him.
"No rush. If Kenny retires in 10 years and I'm available, I would be pleased.
"I want to manage in the Premier League because I know, with my team, we can win trophies."
Dalglish has come under criticism of late as he has failed to carry the Reds' fine cup form into their Premier League campaign this season, with Liverpool currently sitting in a disappointing 7th in the table despite having won the League Cup and setting up an FA Cup semi-final clash with local rivals Everton.