Benitez was quoted as saying by a leading Spanish newspaper on Tuesday that he would "almost certainly" take charge of the club again in the future.
However, the 52-year-old now claims that he was referring to the prospect of living in the city again.
"I have my family in Liverpool so that is my home and I will come back to Liverpool any time," Benitez told reporters.
"Just to clarify - I'm talking about my home, where my family is, not the team."
Benitez won the FA Cup and the Champions League during a six-year spell at Liverpool before his departure in 2010.