Washington (CNN) - Rep. Ron Paul of Texas won't run for re-election to his House seat next year.
"I have decided not to seek re-election to Congress," said Paul in a Tweet Tuesday.
The Republican lawmaker, who has served nearly 24 years as representative of Texas' 14th Congressional District, is currently making his third bid for the White House.
"Dr. Paul will not seek re-election in Texas-14 and will focus his efforts on winning the presidency," Paul political director Jesse Benton told CNN.
"I felt it was better that I concentrate on one election," Paul told "The Facts," which covers Brazoria County, Texas.
Paul said his announcement will give candidates who are thinking of making a bid to succeed him enough time to prepare.
"I didn't want to hold off until in December. I thought it shouldn't be any later than now," Paul said.
Paul's district includes ten counties along the state's Gulf Coast, from suburban Houston south towards Corpus Christi.
After running for the White House in 1988 as a libertarian candidate, Paul made a bid in 2008 for the GOP nomination. He is now making a second run for the Republican nomination.
Watch Rep. Paul on CNN's "John King, USA" at 7 p.m. ET Tuesday.
– Follow Paul Steinhauser on Twitter: @PsteinhauserCNN