Speaking at a meeting of the party's council on Saturday, Landsbergis said he would run for the new election.
"I realize what we did well and take the responsibility for the good things but at the same time I assume the responsibility for the things that failed and what needs to be done next," said Landsbergis.
The conservatives won a narrow victory in multi-member voting in the October parliamentary elections with almost 22 percent of the vote, however, finished second in terms of the number of mandates after the run-off voting.
The winner of the elections, the Lithuanian Peasant and Green Union, opened coalition consultations with the conservatives and the Social Democrats after the polls, however, finally formed the coalition with the Social Democrats. The conservatives declared themselves as an opposition party.