The Wallabies' backs coach has held both posts as an assistant to Michael Cheika and hopes to guide Australia into the 2019 World Cup campaign in Tokyo.
But with the Wallabies slumping to a six-match losing streak, former players and pundits have criticised the part-time arrangements of Larkham and Wallabies defence coach Nathan Grey, who is also an assistant under Daryl Gibson at the New South Wales Waratahs.
"I want to see the Brumbies win the Super Rugby title. Equally I want to do whatever I can to help the Wallabies win a World Cup," former Wallabies flyhalf Larkham told local media.
"We came very close to achieving both those goals last year and I guess they are both real driving factors for me as a coach for the future.
"It's obviously a tough decision to make on whether I want to continue in dual roles or focus primarily on one or the other.
"That is something I will sit down with my family and decide over the next few months.
"Right now I'm very happy to have extended my time at the Brumbies as head coach."
Larkham, Brumbies co-coach with Laurie Fisher in 2014, guided the Canberra side to the semi-finals as the sole head coach in 2015 and the quarter-finals this year.
(Reporting by Ian Ransom; Editing by Peter Rutherford)
