"You don't have long to wait."
Turnbull would not comment on reports Immigration Minister Peter Dutton had offered his resignation in the wake of the Liberal leadership wrangle.
Defence Minister Kevin Andrews is fighting to keep his job. He is one of a number of Abbott backers expected to be demoted or axed when the new Cabinet is unveiled.
"I think that continuity at the moment is quite important in this instance," he told reporters as he confirmed Australian fighter jets had carried out their first strikes on Isis (Islamic State) targets inside Syria.
As well as operations in the Middle East and Afghanistan, publication of the Defence white paper was just weeks away and the department was going through its most significant restructure in nearly 50 years.
There are reports Education Minister Christopher Pyne has been offered the Defence portfolio.
Treasurer Joe Hockey isn't sitting on his hands waiting for Turnbull to decide his future.
Amid speculation he will be the highest-profile casualty of the reshuffle, Hockey brought to Parliament tax-avoidance measures aimed at big multinational corporates.
He also ordered the sale of five additional residential properties unlawfully held by foreign nationals.
And in a press conference at Parliament House a buoyant Hockey adroitly deflected questions about his future. "No, I am not going to answer that question," he said to a reporter who asked him whether he would still be Treasurer next week.
But Hockey clearly indicated his willingness to continue in the role, admitting he could always do more to sell his economic message.
Labor says Turnbull should be making a decision about who he wants as Treasurer now, rather than waiting until the weekend.
Finance Minister Mathias Cormann, another Abbott supporter, said he was looking forward to doing everything he could to support the new Prime Minister. "I am a team player, I always have been, always will be," he said.
Environment Minister Greg Hunt, who has lost responsibility for water to Agriculture Minister Barnaby Joyce under a new coalition deal Turnbull brokered with the Nationals, said he was confident about his position. "I am always optimistic, but never presumptive," he said.