Chile coach Jorge Sampaoli will remain in charge of the South American side until at least the 2015 Copa America.
Sampaoli's men were eliminated from the 2014 FIFA World Cup on penalties by hosts Brazil in the last 16, but impressed in the group stage, beating holders Spain 3-2.
However, despite committing his immediate future to Chile, Sampaoli said he will re-evaluate his position after Chile had hosted next year's Copa America.
"I have a contractual agreement on top of my word to carry on after Copa America," he said. "This is an important tournament which Chile has never won and we're hosts.
"After the Copa America we will evaluate precisely if we carry on or not with the process."
Chile have not reached the final of the South American tournament since 1987, but Sampaoli believes the side's World Cup display will stand them in good stead.
"For us the World Cup was a very important experience," he added.
"The players showed an overwhelming commitment."comments