Larkham's contract extension was announced at the Brumbies Ball on Friday night and looms as a key moment of stability for the club as it prepares to lose several of its best players.

Larkham has been juggling the Brumbies job with a Wallabies assistant coach role for the past two years and the non-stop workload has forced him to make a choice between the two.

Larkham will decide over the next two if he will stay with the Brumbies in 2018-19 or join the Wallabies as a full-time assistant to build towards the World Cup in Japan.

Wallabies coach Michael Cheika is keen to have the best attacking mentor in Australian rugby as part of his coaching team for the next three years.

But the Brumbies would like to keep Larkham as the club rebuilds after the departure of Stephen Moore, David Pocock and Matt Toomua.

"I'm still weighing up a number of things from both sides and it takes time to work through the finer detail," Larkham said.

"I just wanted to have a bit of certainty about next year first and that will give me a bit of time to make decisions for the following two years.

"I'll look to make that decision in the next two months to try to get something set. If I stay [in Canberra], the ARU need to move forward with someone else in a Wallabies role.

"If I'm to stay with the Wallabies through to the World Cup, then the Brumbies need to move forward and start putting feelers out there."

Larkham is committed to the Wallabies for the rest of this year and three stand-alone Tests in the middle of 2017 may allow him to stay in the position next year if required.

He will work with the ARU and the Brumbies to finalise the details of his future and is keen to help both camps achieve their goals.

He has worked in a dual role since Cheika took charge of the Wallabies and has juggled Super Rugby and Wallabies commitments.

"It was difficult [to do both jobs], but you learn from every situation and I've done that. I'm passionate about both," Larkham said.

The ARU wants a full-time team with Cheika over the next three years and Larkham is viewed as the heir apparent to the Wallabies coaching throne.

The 102-Test Wallabies playmaker has been in charge of the Brumbies for the past two years and guided them into the finals in both seasons.

But falling short of their drought-breaking title aspirations contributed to his decision to stay in Canberra for at least one more year.

The Brumbies were knocked out in the first week of the play-offs despite boasting an all-star roster.

"You assess your season on whether you win or not and we've been there or thereabouts in the past few years. It's a bit of an empty feeling at the end of the season when you don't get that result," Larkham said.

"For everyone at the Brumbies, it's about trying to bring that success back. That's not just having a home semi-final or a quarter-final, it's about winning the tournament."

The Brumbies are about to complete the first stage of their search for a new chief executive, with applications for the job to close on Monday before interviews begin in October.

The Brumbies are losing some of their most influential on-field leaders for the 2017 campaign, with Moore joining the Queensland Reds, Pocock taking a sabbatical and Matt Toomua moving to England.

It is unclear whether Christian Lealiifano will play next season as he continues his battle with leukaemia.

Larkham has high hopes for the Canberra team and their chances of winning a first Super Rugby championship since 2004.

"We're obviously losing a lot of experience, but what we've seen this year is the young guys stepping up when they've had their opportunity," Larkham said.

"There's a very good vibe there and there are a number of factors that go into a competition. Having experience is one of those, but culture is just as important and we're on the right road."