The decision to bow out of the 2014 race was announced in a YouTube video on the congresswoman's Website and on her Facebook page.
Although Bachmann didn't give an exact reason for her departure, she explained that an 8-year term in the House was enough.
"The law limits anyone from serving as president of the United States for more than eight years, and in my opinion, well, eight years is also long enough for an individual to serve as a representative for a specific Congressional district," Bachmann said.
The conservative lawmaker also made it clear that her decision not to run had nothing to do with the ongoing ethics investigation about alleged misconduct during her failed presidential campaign in 2012.
"It was clearly understood that compliance with all rules and regulations was an absolute necessity for my presidential campaign," Bachmann said. "And I have no reason to believe that that was not the case."
Bachmann has served in the House since 2007, and is the first Republican woman to represent the state of Minnesota in Congress. She sits on both the Permanent Select Committee on Intelligence and the Committee on Financial Services, and is the founder of the House Tea Party Caucus.