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Johnson's campaign has complained in the past when the candidate failed to meet the requirements to participate in televised GOP debates.

Johnson acknowledged in his announcement that he is not the only self-identified libertarian in the race.

"While Ron Paul is a good man and a libertarian who I proudly endorsed for president in 2008, there is no guarantee he will be the Republican nominee," he said. "If I earn the Libertarian nomination, I will be on the ballot in all 50 states. I will not be held hostage to a system rigged for the wealthiest and best-known candidates in a handful of states who happen to have early primaries. And most important, we will offer a political 'home' for millions of Americans who are not finding one in the current political establishment or its candidates."

Paul was the Libertarian candidate for president in 1988 but is running for the GOP nomination this cycle. A Libertarian candidate has been on the ballot in all 50 states several times in past presidential elections.