Michael Cheika is stepping down as Australia head coach following their World Cup quarter-final exit against England.

The Wallabies' campaign in Japan ended with a 40-16 defeat to Eddie Jones' men on Saturday at Oita Stadium.

Having been non-committal about his future in the job immediately after the match, Cheika said: "I got asked the question in the press conference last night about what's going to happen going forward, and at the time I wasn't keen to answer.

"But I always knew the answer in my head, I just wanted to speak to my wife and tell a few people I care about.

"I put my chips in earlier on in the year and told people no win, no play.

"So I'm the type of man who is always going to back what he says and I knew from the final whistle, but I just wanted to give it that little bit of time to settle down, talk to my people and then make it clear."

The 52-year-old, who had been in charge since 2014 and saw his team finish as runners-up at the 2015 World Cup, had indicated before the tournament in Japan that he would quit if Australia did not win it.

He added on Sunday: "I have no regrets about making the call, but I would love to stay on, you know what I mean?

"I really feel attached to the team and it's an honour, doing this role as the coach of Australia. It is not given to a lot of people and I take it with a lot of pride and a lot of honour.

"But I made my call, I wanted to show I was prepared to put myself on the line to achieve what I believed the team could, and we didn't do that and I have to stand by what I said."