Sky Sports said the 52-year-old would inform the FA of his decision before Christmas, while the FA refused to comment on the reports.
England was eliminated from the 2022 World Cup in Qatar after losing 1-2 to France in the quarter-finals.
“When you wrap up tournaments like this you need time to make the right decision,” Southgate told reporters when asked about his future with England after the exit. “Emotionally you go through so many different emotions.”
Southgate, who led England to the semi-finals of the 2018 World Cup and the final of the European Championship 2020 last year, signed a new contract last November until the end of 2024.
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