Rudisha, who turned 32 on Thursday, has struggled with injuries since defending his title in Rio in 2016 and has missed the last two World Championships.
Ankle surgery meant that the world record holder would not have been able to compete if the Tokyo games had gone ahead this year, instead of being delayed until 2021 by the global Covid-19 pandemic.
“Because of this difficult time with Covid and I have been up and down with injuries, I have been off, I have not been training,” he admitted to BBC Sport Africa.
“I am hoping maybe next year I will make my decision whether I will come back and see the level of my physical fitness.
“That’s when I will be able to assess my level and my standard and that will gauge if I will come back or I will make another decision but I love sports.
“Once an athlete, I will always be an athlete – so I will always be running at some level even if it is professional, or not professional or for fun but I love the sport and I enjoy running,” he insisted.
David Rudisha: Olympic 800m champion on personal struggles, and Tokyo comeback
He insisted he will not be rushing to make a comeback from his latest injury.
“I had a bad injury in the beginning of the year and it is taking quite sometime and coming back you need to prepare yourself very well,” he explained.
“I know that time is everything, if you do not have enough time I don’t think it will be possible because running is not easy.
“It is a process and if I cannot have the period good enough for training I don’t think I will be able to be there and to be at that level of professionalism, so I am just trying my best.
“Even if I come the year after next year all well and good and I will be happy because running is all about fun and would love to come back and it will depend on so many aspects.”