La Razon reported Thursday Morales and his Movement Toward Socialism Party are already preparing for what promises to be a hotly contested race.
Morales, a federal deputy and leader of Bolivia's coca growers union, lost a bid for the presidency in 2002.
Earlier this month nationwide protests prompted then-President Carlos Mesa to step down. Demonstrators were angered with Mesa over his handling of the nation's gas reserves, calling for their nationalization.
Supreme Court President Eduardo Rodriguez was appointed Mesa's successor by the Congress and pledged to hold elections in December.
2014: The Year in Music [PHOTOS]