TORONTO, Ont. – Finance Minister Dwight Duncan will reportedly not throw his hat into the Liberal leadership race to succeed Premier Dalton McGuinty.

Duncan will announce his decision Wednesday morning, according to a Toronto Star report.

On Tuesday, Duncan said he was grappling with whether he can cope with the time obligation involved in leading the Ontario Liberals.

At the time, Duncan said he was yet to decide whether he will enter the Liberal leadership race, but said he would announce his decision “very soon.”

“I think the biggest question any of us has to ask ourselves is you’re looking at a five-to-10-year commitment of your life,” Duncan said on Tuesday.

“That’s the one that’s kind of front-and-centre for me,” he said.

“I’m a little past middle aged — getting toward middle-middle aged. I’ve been in elected office for 25 years now,” he said.

On Tuesday, the 53-year-old said his family would support his plunge into the contest.

“I can tell you if I choose to go forward, my family will be very supportive of that.”

Duncan has long maintained that he was not interested in another leadership run but added that his fellow Liberals had urged him to enter a bid following McGuinty’s surprise resignation last week.

“A lot of the Liberals are very supportive, urging me to do it.”

The Ontario Liberals will select the next leader at a convention in January.

Other cabinet ministers — including Deb Matthews and Kathleen Wynne — are considering entering the race.

Former MPP Sandra Pupatello might run also.