Wolfowitz told the Financial Times in an interview published Friday that he would like to explore ways to help advance development in Africa.
He also left open the possibility of rejoining the government where he last served as U.S. deputy defense secretary before being chosen to head the World Bank.
"Twenty years ago I was American ambassador to Indonesia and I have to freely acknowledge, because it is pretty much an open secret, that I fell in love with that country," Wolfowitz said.
Wolfowitz's next post will be in the private sector as a visiting scholar at the American Enterprise Institute, a conservative think tank.
He was resigned from the World Bank in an ethics scandal.
Notable deaths of 2014 [PHOTOS]