Vitter went on to say that his campaign would focus on job creation, "reforming taxes and spending, spurring economic growth, creating budget stability and through it all we'll do it by fighting political corruption and demand government reform and accountability."
Vitter had been dropping hints that he was making moves to run for governor.
He had previously said he would decide whether he would run for governor sometime in January.
Polling has also been encouraging for Vitter. A Southern Media & Opinion Research poll found Vitter leading the field of potential candidates for governor.
Earlier in January a pro-Vitter super PAC reported raising $1.5 million in 2013, another sign that Vitter would be well positioned to succeed Gov. Bobby Jindal (R), who is term-limited.
In 2007 Vitter was connected to the "D.C. Madam" prostitution scandal. His phone number appeared in phone records of Pamela Martin and Associates, the escort service which had also been running a prostitution ring.
Watch Vitter's announcement below: