Gentvilas informed his party about the decision on Wednesday evening, the Liberal Movement's spokeswoman Dovile Tuskenyte told BNS.
MP Vitalijus Gailius, chairman of the parliament's Anticorruption Commission, earlier this week became the first to announce his intention to run in the Dec. 9 election.
The Liberal Movement appointed Gentvilas, the head of the party's political group in the Seimas, as its caretaker chairman after Vilnius Mayor Remigijus Šimašius in late October stepped down as the party's leader in response to the resignation of three members of the party's board, including Gailius.
The Liberal Movement has been hit by infighting recently amid an ongoing corruption investigation by law-enforcement bodies and the Central Electoral Commission's decision to deprive the party of a six-month grant from the state budget.
An opinion poll conducted by the pollster RAIT for BNS in September showed that 9 percent of voters would vote for the Liberal Movement.
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