Fossella left office in 2008 after he was busted for driving while intoxicated, which led to the revelation he had a child who was the result of a longterm extramarital affair.
"There are significant people who have approached me to run," Fossella said. "They say I did a good job and should enter the public arena again."
Fossella's former seat is currently occupied by Rep. Michael Grimm (R-NY), who was elected in 2010. However, Grimm is currently facing an ongoing Justice Department investigation into his fundraising.
Despite the alleged interest, Fossella said he "told people I have no plans to seek office at this point in my life."
Fossella, who reconciled with his family after the scandal, is currently a managing director at former Sen. Al D'Amato's (R-NY) lobbying firm, Park Strategies LLC.