Sen. Dick Lugar said his next job will be "outside of government."
In an interview on CNN's "State of the Union," the Indiana Republican was asked if he would consider taking a position such as diplomat in the Obama administration if the president is re-elected.
Lugar has been an ally of Obama's on foreign policy issues.
"I think that my role is going to be outside of government," he told host Candy Crowley.
He added that he won't start looking for that position for three or four months.
"I have work to do for seven months," he said. "That's where my preoccupation is going to be."
Sen. Mark Warner (D-Va.), who was on the show with Lugar, said his departure would be a loss.
"We're going to lose a lot when we lose Dick Lugar," he said. "He's the kind of guy we need to see more of in the Senate."