Germany are looking for a new manager to spearhead their bid to host and win next summer's European championships after sacking Hansi Flick on Sunday.
A 4-1 defeat at home to Japan in an international friendly on Saturday saw Flick's two-year reign come to an abrupt end.
Former Manchester United interim manager Rangnick is currently boss of the Austria national team, looking to qualify them for EURO 2024.
He had been touted as one of the early favourites to replace Flick but has distanced himself from the vacant role.
Speaking at a press conference today, the former RB Leipzig boss said: "I decided 14 months ago to work here as team manager and prepare the team so that we qualify for the European Championship and play a good role there."
"Anything else is out of the question for me."
Germany will take on France in another international friendly in Dortmund on Tuesday with Rudy Voller placed in interim charge.
