In a recent Dallas Morning News report, O'Rourke said he has made a decision about his future but wouldn't elaborate further.
"Amy and I have made a decision about how we can best serve our country," he told The Dallas Morning News. "We are excited to share it with everyone soon."
O'Rourke and his wife Amy both spoke with Vanity Fair from their home in El Paso, Texas. They described what they believe is the former congressman's innate political ability.
"There is something abnormal, super-normal, that we both experience when we're out on the campaign trail," O'Rourke said.
Although O'Rourke feels "magic" on the campaign trail, he was defeated by Senator Ted Cruz in the 2018 midterm election. He said he thought he had won until the very last moment.
"So many of the stories that we had heard, especially in the weeks leading up to the election, you're like, How can you not win when there is that level of just dedication and passion from so many people that we had met?" he said.
If O'Rourke does get into the race, one of his defining issues in a crowded field of competitors might be immigration. He recently led a counter-protest when President Donald Trump held a rally in El Paso to drum up support for his border wall.
Beto has advocated for a path to citizenship for young immigrants brought to the U.S. illegally as children, ending the War on Drugs, and working with the Mexican government to track illegal immigrants.
O'Rourke is headed to Iowa this weekend, fueling speculation that he will soon officially enter the packed Democratic primary race.
Read the full Vanity Fair report