The 18-year-old sensation shared a quick hug with his parents and brother after the medal ceremony inside the Olympic Aquatic Centre.
"They didn't say much. They were in tears," he told Channel 7. "I have never seen dad cry before but I witnessed that tonight. It was exciting for me. It is very surreal.
"Seeing my parents all in tears and even my brother. That was hard, but I'm very, very excited with that and over the moon."
Gold Coast Bulletin journalist Todd Balym has reported it is not Chalmers' first big decision about his future.
Chalmers was supposed to nominate for this year's AFL draft.
If not for a broken wrist and torn ankle ligaments playing a school Aussie Rules game last year, Chalmers may never have become the Olympic 100m freestyle champion.
The son of former Adelaide and Port Adelaide ruckman Brett Chalmers, Kyle had always been keen at both sports.
It wasn't until his injury, six weeks before last year's world titles, that Australian swimming officials told Chalmers it was now or never.
After shocking the world to win Olympic gold in Rio, he no longer regrets his choice.
"There was definitely some regrets, but I'm an injury prone person. Six weeks before worlds last year I cracked a bone in my wrist and did the ligaments in my ankle," Chalmers said.