Sanchez had earlier met with his Norwegian counterpart Jonas Gahr Store in Oslo amid his diplomatic campaign to garner support for the recognition of Palestinian statehood.
Store said Norway is ready to recognize a Palestinian state together with other countries.
He told reporters that such a decision would need to be taken in close coordination with “like-minded countries”.
“Norway stands ready to recognize the state of Palestine,” Store told a joint press conference with Sanchez.
“We have not set a firm timetable,” Store added.
In November, Norway’s parliament adopted a government proposal for the country to be prepared to recognize an independent Palestinian state.
Sanchez is currently on a tour of Poland, Norway and Ireland this week to drum up support for the recognition of a Palestinian state, according to a Spanish government spokesperson.
Sanchez said Spain was “committed to recognizing Palestine as a state, as soon as possible, when the conditions are appropriate, and in a way that can have the most positive impact to the peace process.”