The five-times Major winner underwent four operations at the end of last year after collapsing at Madrid airport in October, and is still receiving post-operative treatment.
"First I have to get back to normality. Then a golf course in Santander. This has been my dream for a long time," Ballesteros told Spanish sports daily Marca in an interview in his home city.
"In the eighties I looked at some land and the current mayor Inigo De la Serna has shown his interest from the first moment. The design and the bid have been made.
"It would be a links course, as natural as possible, and open because of its proximity to the sea, so I would say it would be much like the golfing cathedral of St Andrews."
The 51-year-old also spoke of plans he has for opening golfing schools for amateurs and professionals, and his own design for a special 'wedge' for long shots from bunkers.
Ballesteros went on to name some of his sporting idols such as Jack Nicklaus, cyclist Lance Armstrong and footballer Lionel Messi but reserved a special mention for the tennis world number one Rafael Nadal.
"He is a phenomenon, a great example on and off the court. He is the best sports ambassador we have for kids," he said of his compatriot.
"I have played him at golf a number of times and he is very good. In fact he owes me a meal after he lost against me a few months ago. He has managed to keep his feet on the ground which is very difficultwith the all the adulation you receive."