Four years after narrowly ousting former Virginia Governor George Allen (R), U.S. Sen. Jim Webb (D) ruled out a bid for a second term in the upper chamber Wednesday.

Webb, 65, a bestselling author and decorated veteran of the Vietnam War, was elected in 2006 while running as an anti-war Democrat. His announcement followed months of speculation as to whether the commonwealths senior senator would seek reelection in 2012.

Sen. Mark Warner (D-Va.) praised Webbs four-year tenure on Capitol Hill.

Few people in Washington command as much respect or have Jims credibility on national security and military issues, and the men and women in uniform and our veterans could not have a stronger advocate in Washington, Warner said in a statement.

Del. David Englin (D-45) is among local names being floated as possible nominees for Webbs seat. In a statement following Webbs announcement, Englin applauded the senator as a politician unafraid to take on tough issues.

He did not dismiss rumors of a possible run at Webbs seat. 

Im beyond flattered to be mentioned as a possible candidate for his seat, Englin said. Virginia Democrats are blessed with a number of strong candidates to succeed Senator Webb, and I look forward to doing my part to ensure we have the strongest possible nominee to fight for progress for Virginia and the nation.

Allen has already announced his candidacy for his old spot in the Senate.