Hiddink is contracted with Russia until 30 June and has signed a deal to coach Turkey that starts in August.
He said taking charge of the Elephants temporarily will affect his commitment his current and future employers.
"If I had signed for Ivory Coast, then I would have missed these games and to tell the truth I don't think that something for me to do," Hiddink said.
"Although I had a great conversation with the federal president and chief executive Jacques Anouma, I myself had already decided not to go.
"It was a decision taken to avoid unnecessary confusion.
"Though I must admit that with the Ivory Coast it has not been easy."
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