The auto racing driver turned real estate agent made the announcement on "Good Morning America" Thursday morning.
Bachelor Nation fans may remember Luyendyk as the runner-up on Emily Maynard's season of "The Bachelorette" back in 2012. Now five years later, it seems the 35-year-old is ready to give love another shot.
Since Rachel Lindsay's season of "The Bachelorette" wrapped last month, Bachelor Nation fans have speculated on social media that contestants from her season might be recruited to star in Season 22 of "The Bachelor."
Eric Bigger, who came in third place, recently told People magazine that he had not been approached about the gig. Third runner-up Dean Unglert told ABC News in July that he wasn't necessarily ready to settle down in a serious relationship.
And fan favorite Peter Kraus, whose shocking breakup with Lindsay came right before she got engaged to Bryan Abasolo, told reporters last month that he wasn't keen on the "Bachelor" title, either.
"This entire process has been really tough," he said.