Weiner says he doesn't know when he might decide to run, adding "It's now or maybe never for me," The New York Times reported Wednesday.
He acknowledged, "The fact that I don't know tells me I shouldn't run. Or I should not run now."
Weiner represented neighborhoods in Queens and Brooklyn for more than a decade and admits that because of the scandal that toppled him from office, he would be an underdog.
Some people just don't buy that he has changed, Weiner said.
Appearing with his wife, Huma Abedin, on the cover of The New York Times Magazine to be published Sunday, the former congressman said, "We have been in a defensive crouch for so long. We are ready to clear the decks on this thing."
To qualify for $1.5 million in public funding, Weiner would have to declare his candidacy by June 10.
He already has $4.3 million in a campaign funds left over from an abortive mayoral campaign in 2009.