Ljungberg is one of the candidates to take the role full-time after Unai Emery was sacked last week.
But the Swede says he'll be happy to return as assistant should the club hire someone else.
Speaking ahead of Thursday's clash with Brighton, Ljungberg said: "Yeah of course. I work for the club and what the club wants me to do, that's where I'm going to be.
"Of course I'm very proud to have this opportunity but the future will tell what happens."