New Jersey Gov. Chris Christie announced Tuesday that he has decided not to seek the Republican Party's 2012 presidential nomination, shutting the door on months of rumors and speculations.

"In the end, what I always felt was the right decision remains the right decision today - now is not my time," he told a press conference at the New Jersey statehouse in Trenton.

Christie, who said all along that he had no plans to run for president in 2012, acknowledged Tuesday that he reconsidered his position after prominent Republicans urged him to enter the race.

"I felt the obligation to earnestly consider their advice," the 49-year-old former federal prosecutor said.

"My commitment to the state is what overrode everything else. People sent me here to get a job done," he said. "New Jersey, whether you like it or not, you're stuck with me."

Rumors about his possible candidacy grew more rampant last week, when the New York Post said, citing sources close to Christie, that he was "seriously considering" the possibility.

The daily said that Christie began to think about seeking the nomination at the "insistence" of leading GOP figures such as Nancy Reagan and Henry Kissinger.

Christie's announcement comes with just a month left for presenting candidacies, and three months before the first caucuses and primaries begin.

Had he decided to seek the Republican nomination, the New Jersey governor would have come up against the other nine hopefuls officially in the contest, including Texas Gov. Rick Perry, pizza mogul Herman Cain and former Massachusetts Gov. Mitt Romney.