(CNN) - Republican National Committee Chairman Mike Duncan told CNN he will spend the coming weekend deciding whether to run for another term at the helm of the GOP, and could announce his decision Monday.
Duncan said he is torn about what to do - he said he likes his job very much, but also feels it may time for him to return home to Kentucky after being at the RNC for eight years.
Duncan's deliberations come as several other Republicans are publicly eying his post, following two straight election cycles during which the GOP suffered stinging defeats.
Duncan has steadily risen through the ranks of the RNC over the last decade. In 2001 he was elected the committee's treasurer and was named general counsel in 2002. In 2007, President Bush tapped him to replace outgoing RNC chairman Ken Mehlman.
If he enters the race, Duncan will face a long list of challengers: former Maryland Lt. Gov. Michael Steele, South Carolina Republican Party Chairman Katon Dawson, former Mike Huckabee campaign manager and ex-Tennessee Republican party Chairman Chip Saltsman, and Michigan Republican Party Chairman Saul Anuzis have already declared they are seeking Duncan's job.
An RNC source close to Duncan later called to say the announcement may not come until later next week.