"I have been in contact with the Federation president (Angel Maria Villar) as well as the secretary general (Jorge Perez) and I think we are a stable Federation and the last six years as a whole have counted for more than the last two games that eliminated us from the World Cup," del Bosque said at a football school in his home city of Salamanca.

Of the Federation (RFEF), he added: "They valued my work and we are going to carry on as always."

Del Bosque's contract runs through to the end of the European Championship in France in 2016 and his announcement will end speculation that had been mounting since Spain were knocked out of the World Cup following back-to-back defeats against the Netherlands and Chile.

After Spain bowed out of the tournament in Brazil by beating Australia 3-0, he said: "We will look for the best decision for our football, with sense and without drama."

Del Bosque, 63, had previously led Spain to glory at the 2010 World Cup in South Africa and at Euro 2012.