Newcastle are currently without a manager after Benitez walked away from the club last month at the end of his contract, citing a lack of trust in the club’s hierarchy.
Allardyce has revealed he was initially under consideration to replace Benitez at St James’ Park but says he rejected the chance to return to the role, which he previously held between 2007 and 2008.
“I was very flattered that I was considered but it’s that thing… don’t go back,” Allardyce told talkSPORT. “It never got to the type of talks people are suggesting – but it wasn’t for me. I politely said ‘no’.
“I never got to talk to Mike [Ashley]. My agent contacted me, I had a think about it and a quick look at the situation and thanked them very much but it’s not for me.
“Maybe if it was the first time around I would have jumped at it. I appreciate the offer but I was surprised, I’ve not worked for a full season.”
Allardyce has been without a managerial role since leaving Everton in 2018 but the 64-year-old believes it would have been the wrong time for him to return to Newcastle.
“It wasn’t something I thought about for too long,” he added. “I thought it’d be better to make a quick decision for everyone. We’re in pre-season now and they’re back in training.”