For months she had stoked speculation about her plans. But her approval ratings have slid during her time on Fox News, and a McClatchy-Marist poll last month found that 72 per cent of Republicans and Republican-leaning independents did not want her to run.
"I think she measured the field and, being realistic, she must have realised the extreme difficulty of securing the nomination," said Stephen Hess of a Washington DC think tank.
John Pitney, a political science professor at Claremont-McKenna College, said polls had long shown "that a lot of Republicans didn't want her to run and wouldn't support her".
"But by holding open the possibility of a presidential race she managed to increase public attention, and Sarah Palin loves public attention."
Few expect Palin to have a major effect on the campaign, even if she endorses one of the candidates.
"I don't think she'll be a major influence. She'll make a lot of media appearances and become even wealthier than she already is," Pitney said.
- AAP