Real Madrid were seeking a new boss at the end of last season after Zinedine Zidane quit the club.
The search began as soon as Zidane confirmed he was leaving the Bernabeu.
And Seedorf, who played for Real between 1996 and 2000, revealed to Marca that he was approached.
“I consider Real Madrid my home and, to be honest, I would have accepted the job,” the Dutchman said.
“There were contacts but the decision was made to go in a different direction.
“I’m young, so I hope to return in the future.”
Indeed, Seedorf has earned managerial experience since retiring from playing in 2014.
The ex-Netherlands international managed Milan in 2014 and has also taken charge of Shenzhen and Deportivo, until becoming Cameroon boss last year.
Asked if he hopes to manage Real one day, he told Marca: “It would be like returning home.
“I already had a similar experience when I was AC Milan coach, so the feelings would be similar.”
Real Madrid currently have Santiago Solari in charge after Julen Lopetegui was sacked in October.
Los Blancos went after Lopetegui in the aftermath of Zindane’s departure but the appointment proved controversial.
On the eve of the World Cup, Real announced they had agreed to appoint Lopetegui once the summer tournament was over.
But Spain’s football federation reacted furiously and sacked the manager before their first match in Russia.
Lopetegui held his first press conference at the Bernabeu in tears, while Spain crashed out of the World Cup in the last-16 stage.