Ichiro Ozawa of the Democratic Party of Japan announced Monday he will run for a third term as the party's president.

The largest opposition party's presidential election is drawing the spotlight because the winner could become the next prime minister if the DPJ sweeps the next general election, which must be held by September 2009.

"With the support of my fellow comrades, I would like to announce my candidacy for the presidential election and I would like to ask the party members and supporters to hand down a decision for the third time," Ozawa told reporters.