Pearson was said to be eyeing a bid to fill the 9th District seat on the State Transportation Board. Mike Evans, a former state representative, resigned the post last week.
Pearson said he had given some thought to leaving the Senate. Pearson and his brother own a large grading company that does much of its business in residential developments. The company has not escaped the fallout from the current housing slump.
He had made no public announcement about his political future, but told The Times that he will be qualifying for a third term next week.
Pearson represents the 51st district, which includes Dawson, Fannin, Gilmer, Lumpkin, Pickens and Union counties, and portions of Forsyth and White counties.