Bayern are set to name interim boss Jupp Heynckes' successor by the end of April, but Nagelsmann - a hot favourite in the German press for the upcoming vacancy - appears to have ruled himself out of the running.
"I signed a contract, which is valid until 2021 and has a release clause for 2019, with the intention of staying here - at the very least until 2019," Nagelsmann told Playboy magazine. "Of course you think about it if there's interest, but Hoffenheim is not a bad place to be."
Watch: Nagelsmann's tactical wizardry at Hoffenheim
Nagelsmann, 31, took charge of Hoffenheim's senior side towards the end of 2015/16. After steering the Sinsheim outfit clear of relegation, he guided them into Europe for the first time in their history, and is pushing for another top-six finish in 2017/18 - his second full season as a coach.
"I'm enjoying life, but it's always a question of financial security," Nagelsmann said of his future plans. "If possible, the dream is to do something else with my life by the time I turn 40 or 50, something that's away from the football pitch."