The 43-year-old Rubio, the son of Hispanic immigrants, is one of the rising stars in the GOP.
In making his announcement, Rubio is promising his election will usher in a "new American Century".
"Well now the time has come for our generation to lead the way towards a new American century."
Rubio has told his supporters he feels "uniquely qualified" to be president.
He's also used his announcement to criticize Democratic hopeful Hillary Clinton as "a leader from yesterday".
Clinton, the former first-lady and Secretary of State, confirmed her intention to run for the Democratic ticket on Sunday.
Rubio says his election to the White House will see him clean up what he describes as the Obama administration's failed policy.
"But our country is always about the future. And before us now is the opportunity to author the greatest chapter yet in the amazing story of America. But we can't do that by going back to the leaders and ideas of the past. We must change the decisions we're making by changing the people who are making them."
Rubio is considered by many pundits as the Repubican's best chance to court both the Latino vote, as well as younger voters.
However, it's widely expected he's going to have to face-off against former Florida governor Jeb Bush.
Bush has yet to officially declare his candidacy.
Xiaohong, CRI, Washington DC.
