Five members of the party recently announced their presidential ambitions, fueling talk about when Park would announce, the Yonhap News Agency reported.
Park said she needed some personal time after orchestrating party successes in last month's parliamentary elections.
"Nothing has been decided yet," Park said. "I need more time to recharge."
Insiders had intimated Park would begin campaigning soon after the party's national convention May 15 when a new party leader will be selected, the South Korean news agency said. The Saenuri Party charter bars Park from leading the party if she is a presidential candidate.
President Lee Myung-bak is constitutionally barred from seeking re-election to a second five-year term.