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"I'm backing Boris. He got the big calls right, whether it was ordering more vaccines ahead of more waves of covid, arming Ukraine early against the advice of some, or stepping down for the sake of unity. But now, Britain needs him back," Zahawi said on Twitter.
Zahawi said he "saw a preview of what Boris 2.0 would look like" during his chancellorship.
"He was contrite & honest about his mistakes. He’d learned from those mistakes how he could run No10 & the country better. With a unified team behind him, he is the one to lead us to victory & prosperity," the ex-finance minister said.
Zahawi was appointed as finance minister on July 5 and urged Johnson to resign on July 7, citing the partygate scandal. Zahawi then announced his bid for prime minster but dropped out of race, having failed to secure the required minimum of Conservative votes.
On Saturday, Johnson garnered the support of 100 Conservative Party lawmakers, necessary to take part in race to 10 Downing Street.
Johnson became prime minister in July 2019 and stepped down in September 2022 on the back of multiple scandals over parties at his office during COVID-19 lockdowns. He was succeeded by Liz Truss, who survived only 44 days before resigning on October 20 after a series of controversial economic policy decisions.
Truss became the shortest-serving prime minister in UK history. She will remain in office until her successor is elected. Johnson and former UK finance minister Rishi Sunak are considered two top contenders of the Conservative Party leadership and subsequent prime minister's role. The vote is scheduled for October 27.