The Griffith University Art Museum (GUAM) in Brisbane's South Bank hosts visiting exhibitions and is separate to other campus galleries dedicated to showing student work.
The museum is also the custodian of a significant public art collection, which is displayed across the university's campuses, and which will also be on display at a new CBD campus to open in 2026.
"We remain committed to maintaining and displaying our art collection," the university said in a statement.
It is not yet clear whether any job losses will flow from the proposed changes.
The film school, which has doubled in size over the past decade, has to leave its leased studios in West End by mid 2024, increasing the urgency to find any space not already being used for teaching.
The art museum is currently showing photography by Chinese artists Pixy Liao and Lin Zhipeng in an exhibition titled Each, Other.
An exhibition by leading Indonesian art collective Taring Padi is slated to go on display from the end of February, combined with a public art project to be developed with Indigenous art collective proppaNOW.
"If GUAM does close, we will work with any artists who have been booked for exhibitions next year to ensure they receive as much notice as possible of the changes and appropriate action taken with respect to their contracts," the university said.
The closure of GUAM would be a substantial blow not only to the art school but Queensland's arts ecosystem, according to the National Association of Visual Arts.
"The museum serves as a crucial training ground for arts professionals, curators, and artists in Brisbane," NAVA executive director Penelope Benton said in a statement.
The university has begun consulting with staff about the proposed changes in a process to be completed by next Friday.
Visitor numbers at the museum are low compared to other campus galleries, the university said.
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