"I haven't got the patience required to do either of the jobs," he told reporters after Sri Lanka beat Pakistan in the second and final Test - his farewell game.
Jayawardene's predecessors as national captains, Sanath Jayasuriya has entered politics and is currently a deputy minister while Marvan Atapattu holds the current Head Coach job.
Jayawardene said his decision to retire from Test cricket was a well thought out decision.
"I am not getting any younger so it was the right decision to be made. This will be the opportunity to build a new team with younger talent."
"For 17 years my life has been one routine so there is a time you need a change," he said.
Jayawardene, 37, played 149 Tests scoring 11814 runs with 34 centuries and 50 half centuries averaging 51.45.
