Nigel Farage today teased a 'very big decision' on returning to frontline politics 'in the next few weeks'.
The Brexit champion insisted he is on the verge of making up his mind about a comeback, with potentially just months until a general election.
But he stressed that he will not be joining the Tories, despite a 'very sweet' suggestion from Liz Truss that he would be welcome,
The comments came as Rishi Sunak faces mounting Conservative anxiety about dire polls, with Labour enjoying double-digit leads and Reform UK gaining ground.
Richard Tice is currently leader of the insurgents, but Mr Farage founded the party and has been mulling a comeback for months.
Nigel Farage today teased a 'very big decision' on returning to frontline politics 'in the next few weeks'
The comments came as Rishi Sunak faces mounting Conservative anxiety about dire polls, with Labour enjoying double-digit leads and Reform UK gaining ground
A major obstacle could be the US election in November. Mr Farage has been expected to spend much of his time on the other side of the Atlantic supporting old ally Donald Trump.
Appearing on ITV's Good Morning Britain, Mr Farage said it was 'very sweet' that Ms Truss would welcome him to the Tories.
But he said: 'I've got no intentions of joining this Conservative Party at this moment in time. I've absolutely no idea what they stand for on any issue at all, nor do they...
'It's very sweet of Liz Truss to say that, but I won't be joining the Conservative Party.'
The ex-MEP said he 'simply hasn't decided' whether to take a more prominent role ahead of the election.
'But I notice that Reform is getting stronger and stronger and stronger,' he said.
'The hard thing of course is if you take on the established parties in the British political system you've got to overcome the first past the post voting system. Not easy.
'I am going to make a big decision on this within the next few weeks.'
When presenter Ed Balls - a Labour former Cabinet minister - jibed that it could be 'eighth time lucky' for Mr Farage seeking to become an MP, he replied: 'I can attract millions of supporters and get very, very few seats. It's not an easy system.
'That's why for me this is a very big decision.'
Mr Sunak is facing renewed speculation about his future as the local election loom next month
What's causing the catastrophic rainfall in Kenya?
Lao PM says China taking concrete actions to deepen global anti
Roundup: Monkeypox cases rising in EU, authorities urge countries to take measures
In pics: Olympic Village for Tokyo 2020 Olympic Games
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Alleged intruder at Peruvian embassy in U.S. shot dead by Secret Service
IMF to downgrade forecast for over 140 economies amid Russia
IMF to downgrade forecast for over 140 economies amid Russia
Jaguars cut WR Zay Jones, clearing a path to potentially sign five
News Analysis: U.S. president touts gas tax holiday amid surging energy prices
Audit finds Wisconsin Capitol Police emergency response times up, calls for better tracking
China's foreign trade rebounds amid stronger economic recovery momentum