Woodgate will take over at Middlesbrough, a club he knows well after spending five and a half seasons at, next season.
The former defender recently signed his contract at the Championship club, and during his presentation he suggested that Karanka was key in making him think about a possible career in management after retirement.
"When I was 19, I didn't think about being a coach. It was with Karanka that I wanted to become a coach because I saw his organisation, his way of working and the structure of his game. He had everything coordinated and managed," he told the media.
Woodgate played under Karanka at Middlesbrough between 2013 and 2015 - a spell in which the centre-back was in the twilight of his career.