Republican John McCain, who was beaten by Democrat Barack Obama in the 2008 presidential race, plans to run for re-election as an Arizona senator in 2010.
Senator McCain, 72, met his senior advisers on Tuesday and formally set up a fundraising political action committee as a first step toward seeking re-election to a new six-year term.
It would be his fifth term as a senator from Arizona.
Senator McCain and president-elect Obama met on Monday in Chicago and pledged to work together to face the financial crisis and reduce government waste.