Bond made the announcement to the Missouri General Assembly, Politico reported.
"In 1972, I became Missouri's youngest governor," Bond said. "Good friends, I have no aspiration of becoming Missouri's oldest senator."
Republican Sens. Mel Martinez of Florida, Sam Brownback of Kansas and Kay Bailey Hutchinson of Texas have all said they will not run again in 2010. The retirements give the Democrats a chance of picking up more seats, especially in the swing states of Missouri and Florida.
A graduate of the University of Virginia law school, Bond, 69, practiced law in Washington before returning to Missouri to enter politics. After losing a close race for Congress, he served as state auditor before becoming governor at the age of 33.