Ernesto Valverde has been installed as the early favourite to succeed Vicente del Bosque after the Spain boss announced he will leave his post after the World Cup in Brazil next summer.
Del Bosque, 62, masteminded Spain's first ever World Cup triumph in 2010 before guiding the country to Euro 2012 glory.
Victory in Poland and Ukraine secured Spain an unprecedented third successive major title after Del Bosque's predecessor Luis Aragones led La Roja to Euro 2008 success - their first major title in 44 years.
The Spanish FA had been keen to extend Del Bosque's stay beyond the end of his current contract in 2014, but it appears the former Real Madrid coach has already made up his mind to walk away.
"My final responsibility as coach of Spain will be at the World Cup in Brazil,” he told Argentine news agency Telam. "Then maybe I can stay tied to the Spanish Football Federation in roles of representation, like now, travelling all over for requests from public welfare agencies."
Leading bookmakers have made Valverde, 48 the early frontrunner for the role although Barcelona's Tito Vilanova and outgoing Chelsea interim Rafael Benitez also feature prominently.
Valverde has won plenty of admirers after leading Espanyol to the UEFA Cup (now Europea League) final in 2007 before going on to win three league titles in four years with Greek giants Olympiacos. He took up the reins at Valencia earlier this season.
Meanwhile, in a week where the once-dominant Spanish teams have been humbled by German opposition in the Champions League, it is hardly surprising Del Bosque pinpoints Joachim Low's side as the main threats to Spain's hopes of retaining the World Cup in Brazil.
"The Germans have learnt of the traditional power of possession, which is what you see now with Bayern and Borussia, and it makes their national team a great candidate to win the next World Cup," he said.
"Cycles are fulfilled and football is evened out worldwide. That is why Finland made things complicated for us [in March’s 1-1 World Cup qualifying draw]."
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