The former Norway international is currently on the coaching staff at United and remains fully committed to that role.
As a result, he opted against returning to Molde, the club he left to sign for United back in 1996.
That switch allowed Solskjaer to become a household name and form part of a Red Devils side that enjoyed unprecedented success.
He admits that Old Trafford now feels like home and that he would find it difficult to leave.
The 37-year-old harbours ambitions of one day taking the reins at the Theatre of Dreams and believes his development would be better served under the guidance of Sir Alex Ferguson.
"Of course it was tempting," said United's reserve-team coach on the Molde offer.
"I am a local, I have a sense of belonging at Molde. But I want to be a manager in England.
"I would like to become manager of Manchester United, too."
Solskjaer feels he owes a debt of gratitude to Ferguson for handing him his big break in coaching and admits he will remain part of the Red Devils fold for as long as the legendary Scot is in charge.
"As long as the boss stays, I stay," he added.
"My job at United is dependent on him. Had Ferguson not been manager at United I wouldn't have been here.
"We have a really good relationship and I enjoy working under him."