Speaking in a room of the National Liberal Club, Musharraf said he would return to Pakistan and use his new political party to resurrect the country, the BBC reported.
"I will go back to Pakistan before the next election whatever the dangers," Musharraf said. Musharraf moved to London after he was ousted as president in 2008.
Musharraf said when he returns to Pakistan he would help Pakistanis fight a "jihad against poverty, hunger, illiteracy and backwardness."
"It is time to unfurl a Muslim league umbrella for all -- this umbrella for all shall be the All Pakistan Muslim League," Musharraf said.
Musharraf said he launched the new party in London because he risked assassination if he returned to Pakistan; he has survived a number of plots in the past, the BBC said.