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We have another contender!

Sen. Rand Paul officially announced Tuesday morning that he will be running for president in the 2016 election. He broke the news on his campaign website, writing, "I am running for president to return our country to the principles of liberty and limited government." The Kentucky senator's site also says he's running to "restore liberty and prosperity for ourselves and for future generations." He is scheduled to declare his candidacy at a rally in Louisville, Kentucky.

Before entering the world of politics, Rand, 52, owned his own ophthalmology practice and performed eye surgery for 18 years. He was elected to the senate in 2010, marking the first time in congressional history that someone served in the Senate while a parent (father Ron Paul) served in the House of Representatives. Paul was assigned to serve on the Energy and Natural Resources, Health Education, Labor and Pensions, Homeland Security and Government Affairs and Small Business Committees.

Rand Paul

Mark Wilson/Getty Images

He also formed the Senate Tea Party Caucus with Jim DeMint and Mike Lee as its inaugural members. Rand also became well known for his 13-hour filibuster two years ago, which blasted President Barack Obama's administration's drone policies. He also was one of the few republicans who traveled to Ferguson, Mo., where he said there is no "bigger defender of minority rights in the Congress" than himself.

Rand's announcement comes on the heels of Ted Cruz's presidential bid on behalf of the GOP. He was the first person to make the official announcement, turning to Twitter to break the news. "I'm running for President and I hope to earn your support!" the Texas senator tweeted. His post also included a 30-second video that called for "a new generation of courageous conservatives to help make America great again."

Still to come from other potential presidential candidates are former Florida governor Jeb Bush and Wisconsin Gov. Scott Walker, who are leading early public opinion polls, per USA Today. Florida Sen. Marco Rubio is expected to announce his bid on Apr. 13.