The Australian, who turns 63 in August, claims he had no intention of retiring from management after guiding the Lions of Mesopotamia to this year's World Cup in North America.
As preparations begin for Iraq's first World Cup appearance since 1986, Arnold has already been casting his eye over dual-eligible players to strengthen his squad for group stage matches with France, Norway and Senegal.
Arnold was feted as a hero by the Iraqi people following the 2-1 victory over Bolivia earlier this month, which caused widespread celebrations across the Middle Eastern nation.
Alongside his players, Arnold spoke directly with the country's prime minister Mohammed Shia al-Sudani and the ex-Socceroos boss and his coaching staff were mobbed by fans at Sydney's international airport following their return home.
"When I came back to the airport, I was completely shocked," Arnold told AAP.
"I got off the plane and security asked, 'who's Graham Arnold? There's all these people waiting for you, what have you done? I said, 'Sorry, I coached Iraq', it was crazy."
Arnold became the first Australian coach to take another country to a men's World Cup.
His achievements have generated huge interest in Iraq's fortunes, but the drought-breaking coach revealed he had yet to finalise his future beyond July.
"The book is open, my contract finishes straight after the World Cup," Arnold said.
"There has been talk about them wanting me to stay on but I haven't had anything formal yet.
"I really don't want anything formal yet. I want to go to the World Cup and enjoy it and after that I've got to make a decision whether to stay on or move on.
"There's some nations that I look at and I think to myself, 'they haven't qualified for a long time, I'd like to do it again'.
"I've obviously had the experience throughout Asia to but I'm nowhere near ready to retire."
Iraq have qualified for next January's Asian Cup in Saudi Arabia and that could prove tempting given Arnold is one of the continent's most-respected coaches but has yet to win its highest prize.Â
Arnold has a short runway to Iraq's first World Cup game against a Norway side boasting Erling Haaland in Boston on June 17 (AEST).
He has kept tabs on the progress of Perth Glory right-back Charbel Shamoon and Ali Auglah, an uncapped Sydney-born striker of Iraqi descent at the Central Coast Mariners who previously played for Australia at youth level.
Arnold knows his side will be viewed as outsiders but insisted Iraq should not be daunted by facing the Norwegians and a France team that includes Real Madrid star Kylian Mbappe.
"We can walk out that tunnel with fear or excitement and I want the players to walk out with excitement," Arnold said.
"It's 11 human beings against 11 human beings and anything can happen if you put in the performance of your life.
"We're going out there with nothing to lose and everything to gain and with the chance to shock the world.
"We'll be the underdog. We'll be fighters, if no one's giving us a chance we can go there and achieve something special."
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