The Leicester captain made two appearances at the recent World Cup, lifting his number of caps to 72, and suspects they may be his last outings in the green jersey.
"I haven't made a concrete decision yet but I'm heading that way (retirement)," said the 33-year-old full-back.
"I spoke to (Ireland coach) Declan Kidney at the end of the World Cup.
"I'm weighing up my options at the moment and I'll probably make a call on it just before the Six Nations."
Several Ireland players have entered the autumn of their careers, among them Brian O'Driscoll, Ronan O'Gara and Paul O'Connell.
Murphy, however, believes a flurry of post-World Cup retirements from Test rugby is unlikely.
"I don't think many of them will hang up their boots," he said.
"If you're based in Ireland, you're centrally contracted so it wouldn't be smart to retire."
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