Governor Rick Perry announced Monday he will not run for re-election in the 2014 Texas Governor race. Does this mean he is eyeing the presidential election in 2016?

Governor Perry, 63, is the longest-serving governor in Texas history and a former GOP presidential candidate, NBC News reports.

"I remain excited about the future and the challenges ahead but the time has come to pass on the mantle of leadership," he said.

Perry did not say he wouldn't run for president again, and instead discussed "exciting future plans" at a San Antonio event with supporters last week.

At the event, Perry said that he will "pray and reflect and work to determine my own future path." 

Perry made an appearance on Fox News Sunday and, according to NBC News, said that running for president again was "an option out there" but did not elaborate on the matter.

On Monday, Perry stressed the importance of concentrating on the state of Texas as he completes his term, before thinking ahead.

"Any future considerations I will announce in due time, and I will arrive at that decision appropriately," he said. "But my focus will remain on Texas." 

According to USA Today, Cal Jillson, a political scientist at Southern Methodist University in Dallas, said if Perry decides to run for president again, he would need to be better prepared than he was in 2012.

"If he plans to run for president again, he needs to be free of the governor's office so he can give his full attention to putting together a top-flight campaign team and prepare himself substantively, especially on foreign policy and national security issues," Jillson said.

The Texan dropped out of the 2012 race just before the South Carolina primary. Once considered a top conservative for the Republican nominee in the presidential election, he quickly lost traction after a series of mistakes in his speeches. Infamously, he uttered an "oops" during a televised debate when he forgot the name of the third federal agency he wanted to eliminate.