"I wasn't necessarily expecting to hear from them, but it was a nice surprise," Wallach said.
Wallach has a strong background in baseball, both as a player and in coaching.
The last time he interviewed for a Major League managerial post was in 2010 with the Brewers.
"You learn from every experience, so I'm sure it will help," said Wallach. "But I'm just going to be honest with them."
During Wallach's playing career, one of his better friends in the game was Terry Francona, who managed the Red Sox from 2004-11, leading the franchise to two World Series championships.
"We go way, way back," chuckled Wallach.
Wallach played in the Major Leagues from 1980-96, spending most of that time with the Montreal Expos. He played in 2,212 games, hitting .257 with 260 homers and 1,125 RBIs.
A third baseman, Wallach was a five-time All-Star and three-time Rawlings Gold Glove winner.
After spending a few years as the Dodgers' hitting coach, Wallach got some managerial experience for Triple-A Albuquerque from 2009-10, winning 80 games in his first season to earn Pacific Coast League Manager of the Year honors.
He returned to the Dodgers' Major League staff as third-base coach in 2011 under Don Mattingly.
Aside from his impressive background, Wallach, 55, is known as being a strong communicator with players.
While Wallach is the first known candidate, the Red Sox are expected to start interviewing prospective managers before this week is through.
If Blue Jays manager John Farrell was a free agent, he would be one of Boston's top candidates. But Farrell is under contract with the Blue Jays for one more season, and it's unclear if he will be permitted by Toronto to explore the possibility of managing the Red Sox.
It's likely the Red Sox would need to supply the Blue Jays some player compensation to get Farrell, who served as Boston's pitching coach from 2007-10.
Tim Bogar, Boston's bench coach in 2011, could also be one of the candidates.
The Red Sox dismissed Bobby Valentine on Oct. 4 after finishing the 2012 season with a 69-93 record.
This is the second straight offseason Boston has been on the hunt for a new manager.