Savage quit the internatonal scene in March after a row with Toshack, who told him he would not be involved in two World Cup qualifiers with
"I shouldn't have reacted as I did. It was an over-reaction," the 30-year-old Blackburn midfielder told a Sunday tabloid newspaper.
"I believe I can go on for another four or five years yet and that is what I really want to do."
Since his decision Savage has said he would never play for Wales again while Toshack was in charge, but later declared that he would offer his services to Wales, only if Toshack made the first move.
Wales are now unlikely to qualify for the World Cup in 2006, however, Savage has declared himself available for country until 2010 beginning with the clash against neighbours England on September 3.
The former Leicester and Birmingham midfielder added: "I've got 39 caps and I don't want to tell my little boy Charlie as he grows up that I could have made a lot more but I cut my career short became of my temper.
"I believe I am the best midfielder of my type in the country.
"I am ready to return and, although I still believe I was good enough to be in the squads against
"What matters is that I want to make myself available to the nation again. I know now that is the right thing to do.
"There is no reason for the continuing silence between myself and the manager and I hope he includes me in the next squad."