(CNN) -- Rep. Jason Chaffetz, a Utah Republican and chairman of the House's powerful oversight committee, will not seek re-election to Congress, he announced Wednesday.

In a message on his Facebook page, Chaffetz thanked supporters and announced he will "not be a candidate for any office in 2018."

"After long consultation with my family and prayerful consideration, I have decided I will not be a candidate for any office in 2018," Chaffetz wrote.

Chaffetz said that he has no "ulterior motives," but instead said he is ready to return to the private sector.

"After more than 1,500 nights away from my home, it is time. I may run again for public office, but not in 2018," Chaffetz said. "For those that would speculate otherwise, let me be clear that I have no ulterior motives. I am healthy. I am confident I would continue to be re-elected by large margins. I have the full support of Speaker (Paul) Ryan to continue as Chairman of the Oversight and Government Reform Committee. That said, I have made a personal decision to return to the private sector."

Chaffetz told the Deseret News in January 2016 he was interested in looking at running for governor.

For more information go to http://www.cnn.com