Texas Governor Rick Perry (R) announced Monday that he will not seek reelection in 2014.
"The time has come to pass on the mantle of leadership," Perry said of his decision.
"It's been an improbable journey that has taken me from a farm in this place called Paint Creek, Texas to the governor's office," Perry said of his time in office. "Each day has been an honor."
Perry's announcement came during a news conference in San Antonio, Texas.
First elected as the Lone Star State's lieutenant governor in 1998, Perry became governor in 2000 after then-governor George W. Bush resigned to become U.S. president. He was reelected in 2002, 2006 and 2010. He unsuccessfully ran for the 2012 GOP presidential nomination, leaving the race ahead of the South Carolina primary.
During an appearance on this week's "Fox News Sunday," Perry said another presidential bid was "an option."
"Well, certainly, that's an option out there, but again, we got a lot of work to do in [Texas] over the course of the next couple of weeks that have my focus substantially more than even 2014 or 2016," Perry said.
On Monday, Perry remained coy about his plans beyond 2014.
"Any future considerations, I will announce in due time and I will arrive on that decision appropriately," he said.