Dame Kelly Holmes will decide in the next fortnight whether to retire from athletics or defend her 1500m title in next year's Commonwealth Games.
Holmes has been struggling with the injury since June
Holmes has now recovered from the Achilles injury which forced her to miss August's World Championships.
Holmes told Sky News: "My Achilles is fine and I am back running. I'm going to make my final decision in the next couple of weeks."
The 35-year-old has already made plans for her post-athletics career.
She is believed to be keen to do a television programme promoting PE in schools, in the same way that Jamie Oliver focused on school dinners.
Holmes is also mentoring a group of Britain's most promising female teenage middle-distance runners, with the aim of producing a home medal winner at the 2012 London Olympics.