The Australia Test captain is considering retirement but said he still has not made his mind up and wants another fortnight to think it over.
"There's days when you contemplate either way and I really haven't made a decision yet," Waugh said at Tuesday's Allan Border Medal presentation night.
"People say you'll know when it's the right time, but I'm not so sure.
"I'll have a think about it and decide in the next couple of weeks."
Waugh, 37, has been facing increasing opposition to his place in the team over the past 12 months but silenced his critics with a magnificent centuryin the last Ashes Test in Sydney earlier this month.
Punching the final ball of the day through the field to reach his hundred, Waugh equalled Don Bradman's Australian national record of 29 Test centuries.
He joined Border and Sunil Gavaskar as the only players to make 10,000 Test runs and equalled Border's world record of 156 appearances all in the same match which Australia lost in a 4-1 series win over England.
Waugh was left out of the Australia squad for next month's World Cup but would be an automatic selection for the next Test tour of West Indies starting in April if he decides to play on.