The 20-year-old joined the youth system at the Allianz Arena from Brondby in 2012 but has spent most of the last 18 months on loan with Augsburg and Schalke.
Hojbjerg is set to rejoin Bayern at the end of his season-long deal at the Veltins Arena, but the Denmark international is already looking to move elsewhere in order to continue his development with regular football.
"'Club hunting' sounds a bit desperate!" he told BT. "I'm going out to find the right match, something that suits me. However, it's clear that it doesn't need to be a top club.
"I need to find a place where there is perspective, because I'm only 20 and I've already experienced a lot.
"Whether it's in Spain, Italy, England or Germany remains to be seen."
Hojbjerg admits he would relish the chance to forge a successful career in the Bayern first team but insists he is grateful for the time he has spent at the club, despite making just 17 Bundesliga appearances in three years.
"Of course I would like to play for Bayern Munich. They're one of the best clubs in the world. Maybe we'll meet again," he said.
"I'm just happy that I have learned and that I got so much from there. I know it's valuable for my future."