Dole, who also is a former president of the American Red Cross, will be running against Richard Vinroot and Ada Fisher for the GOP nomination. On the Democratic side, the only two candidates to announce their decision to run are Rep. Dan Blue, D-Wake, and N.C. Secretary of State Elaine Marshall.
Originally planning to announce her candidacy Sept. 11 from her hometown of Salisbury, N.C., Dole delayed because of the terrorist attacks.
When reporters asked Dole on Saturday if she intended to run, Dole responded that she would. Dole plans to tour all 100 N.C. counties in the coming weeks.
Ferrel Guillory, director of UNC's Program on Southern Politics, Media and Public Life, said Republicans in Washington, D.C., have encouraged Dole to run.
"The Senate is very narrowly divided, every seat counts," Guillory said. "Her running for Helms' seat grew out of the effort in Washington to organize a strong party effort in 2002."
Guillory expressed concern about the lack of time she has spent in North Carolina in recent years.
"She doesn't have those personal day-to-day connections," he said.
N.C. Democratic Chairwoman Barbara Allen also expressed concern with Dole's recent decision.
"Whoever wins the senate race needs to know this state and needs to know the needs of the state," Allen said, adding that she thinks just reading about the state and not residing in it is ineffective.