Sen. Mike Braun, R-Ind., has filed paperwork to run for Indiana governor in 2024, which would open up his Senate seat in the next election cycle.

Braun's decision may open the door for a crowded GOP primary. The Senate race could influence the balance of power in the upper chamber during an election year when Democrats face great obstacles to hold onto their slim majority. 

Indiana Reps. Victoria Spartz and Rep. Jim Banks have both voiced interest in running for the Senate seat in the past. 

Braun, serving his first term in the Senate, hopes to replace Republican Gov. Eric Holcomb, who is term-limited, in what is likely to be a competitive race. Former president of the Indiana Economic Development Corporation, Eric Doden, announced he will seek the Republican nomination in the race to succeed Holcomb in 2021, over three years before Election Day.  

SCHUMER SAYS HE'LL WORK WITH REPUBLICANS WHO ‘SHAKE OFF THE MAGA WING’ OF GOP

Senator Mike Braun, R-Ind., filed paperwork on Tuesday to run for governor of Indiana after serving one term in the U.S. Senate.

Senator Mike Braun, R-Ind., filed paperwork on Tuesday to run for governor of Indiana after serving one term in the U.S. Senate. (Sarah Silbiger-Pool)

The first-term Senator was elected in 2018 when he ousted the sitting Democrat, then-Sen. Joe Donnelly, winning by a sizable 12-point margin.

WHY SOME DEMOCRATS ARE ROOTING FOR TRUMP TO BE THE 2024 GOP NOMINEE OVER DESANTIS

The Indiana Republican, who previously served as a state representative, was notably one of the most vocal supporters of Sen. Rick Scott's failed attempt to oust Minority Leader Mitch McConnell as GOP leader after the 2022 midterm elections.

Senator Rick Scott

Sen. Mike Braun, R-Ind., was a vocal supporter of Sen. Rick Scott's, R-Fla., unsuccessful attempt to challenge Senate Minority Leader Mitch McConnell, R-Ky., for his leadership post.  (Bill Clark/CQ-Roll Call)

CLICK HERE TO GET THE FOX NEWS APP

Braun had previously hinted at a potential run for Indiana governor in an interview with Politico earlier this fall. 

"I’ll make a formal announcement somewhere probably late November, early December," Braun said in September.