"The reason I am not making a judgment about formally running... once I make that judgment a whole series of regulations kick in and I'd have to treat myself as a candidate from that moment on. I have not made that formal decision but it's my intention, my intention to run again, and we have time to make that decision," Biden said during an interview that aired on MSNBC on Friday.
Asked about what the first lady thinks of the prospects of him running for a second term, Biden, who will be turning 80 next month, said that she was supportive.
"Dr Biden, my wife, thinks that we're doing something very important and that I shouldn't walk away from it," the US president told MSNBC.
NBC reported last month that Biden's most trusted White House advisers were already putting together an organizational and political strategy to run his reelection campaign, using Bill Clinton's successful re-election campaign in 1996 as the model to direct the 2024 effort.
Clinton and Barack Obama, the two previous Democratic presidents, both were successfully reelected to second four-year terms. No Democratic president has been denied a second term in office in the US for more than 40 years since President Jimmy Carter in 1980.