St. Barbe MHA Jim Bennett is running to regain the job he briefly held seven years ago.
"In November, 2015, I intend to lead our party to victory in this province so we can form the next government in Newfoundland and Labrador," Bennett said in a press conference on Friday.
Bennett served as provincial Liberal leader for three months in 2006, but resigned after weeks of turmoil in the caucus over his performance.
At the time, Bennett was not an MHA. He ran unsuccessfully in 2007, but beat Tory Wallace Young in a 2011 rematch.
He now serves as Opposition fisheries and innovation critic, and as chair of the house of assembly’s public accounts committee.
Bennett is a lawyer from Daniel’s Harbour who has specialized in fishery-related cases.
Interim leader Dwight Ball has already said he is in the race.
Former MHA Danny Dumaresque will hold a press conference on Tuesday to announce his intentions. He is widely expected to run for the leadership.
St. John’s businesswoman Cathy Bennett is also pondering entry into the race. She is expected to make a decision over the weekend.
The deadline for prospective candidates to enter the race is July 5.
The convention is scheduled for November in St. John’s.