It is understood that Todt has already began campaigning
Former Ferrari boss Jean Todt has said he will stand for the presidency of motorsport's governing body, the FIA.
Current president Max Mosley, who will not stand for a fifth term in October, had endorsed the 63-year-old Frenchman.
Todt will stand against Finnish former world rally champion Ari Vatanen, who confirmed his intention to stand as Mosley's potential successor last week.
"It is my intention to continue and expand the outstanding work of President Mosley," said Todt.
Mosley announced on Wednesday that he would stand down as president, stating that Todt "would be the ideal person to continue and extend the work of the past 16 years".
Todt has been involved in motorsport since 1966 when he was a rally co-driver and won the World Rally Championship, the Le Mans 24 Hours race and the Paris-Dakar rally as head of Peugeot motorsport.
He joined Ferrari in 1993 as general manager of the Italian sports car's racing division and presided over a golden era in F1 as Michael Schumacher won five straight world championships between 2000 and 2004.
As part of a 22-strong 'cabinet', Todt named his two vice-presidential candidates as Brian Gibbons and Graham Stoker, while American Nick Craw was proposed for president of the Senate.
New Zealander Gibbons is chief executive of the New Zealand Automobile Association, Britain's Stoker is chairman of the council of the UK's Motor Sports Association, while Craw is the current FIA deputy president.
Todt added: "I am confident that together we will offer the FIA the opportunity to elect a dynamic leadership team of outstanding experience and commitment."
Todt and Vatanen, who will now go head-to-head for the presidency on 23 October, worked together when the Frenchman was Vatanen's team boss at Peugeot.