Dodging questions over whether or not he will put up his hand, Mr Koutsantonis says the party has some great talent to choose from after Jay Weatherill confirmed on Sunday he would step down from the top job after failing to win a record fifth term for Labor in the state.

"We've all got to get together and have a chat about this and work out what the best arrangement is for the party and the state," Mr Koutsantonis told Sky News on Monday.

"Ultimately, caucus will pick the next leader of the Labor Party in South Australia."

The frontrunner to replace Mr Weatherill as Labor leader is former health minister Peter Malinauskas while Mr Koutsantonis could be named his deputy.

Others in the mix are former transport minister Stephen Mullighan and possibly former education minister Susan Close.

Mr Weatherill said on Sunday his replacement will be chosen once all the election results are known.

Australian Associated Press