The 33-year-old Leicester captain said he had not made a final decision, but indicated he was leaning towards calling time on his Irish career.
Murphy has won 72 caps, the last two coming in the recent World Cup.
"I am weighing up my options and I will probably make a call on it just before the Six Nations," said Murphy.
Several Ireland players are considered to be approaching the end of their careers, among them Brian O'Driscoll, Ronan O'Gara and Paul O'Connell.
However, Murphy does not anticipate a flurry of post-World Cup retirements from Test rugby.
"I do not think many of them will hang up their boots," he added.
"If you are based in Ireland, you are centrally contracted so it would not be smart to retire."