Del Bosque stepped down as the Spain boss after their exit at the Last 16 of Euro 16, having previously lead them to the 2010 FIFA World Cup and Euro 2012 glory.
Guardiola has been touted amongst the candidates to take the vacancy, however, the former Real Madrid boss backs him to lead his country at a later stage.
"Guardiola is the best coach around at the moment, there is no doubt about it. He got a great education and has since only developed," Del Bosque told Suddeutsche Zeitung.
"In the past, we brought in coaches from abroad. Now our coaches are the ones moving abroad.
"We are proud of someone like Guardiola. We could never have imagined this a few years ago."
Despite the ex-Barcelona and Bayenr Munich mentor being from Catalonia – an autonomous community within Spain – Del Bosque believes it will not affect his allegiance with the national team.
"I don't see any reason why Guardiola could not coach Spain. Of course, he is Catalan, but is it not our job to unify people? It would be great if football could help in bringing Catalonia and the rest of the country closer again.
"He would probably not make as much money as Spain coach as he makes at a club, but I don't think that's important for people who have already made a lot of money."