He was "in no hurry" to make a decision, the 79-year-old said. He assumes that after talks with his wife Jill, he will make a commitment early next year.
Biden's predecessor Donald Trump had recently made it increasingly clear that he was aiming to return to the White House and that he wanted to run in the presidential election in two years. The Republican has promised a "very big announcement" next Tuesday.
Biden has repeatedly said he wants to prevent the right-wing populist from returning to the White House. However, Biden is struggling with poor poll numbers and is already the oldest president in US history.
Recently, however, he has been on the up again: his Democrats did better than expected in the midterm elections on Tuesday and were able to prevent a landslide victory for the Republicans. Although the Democrats are expected to lose their majority in the House of Representatives, they have a good chance of defending their majority in the Senate. The races are so close that US broadcasters did not announce a winner until Wednesday afternoon (local time).