House Speaker Paul Ryan Tuesday will announce Tuesday afternoon that he will not be a candidate for the Republican presidential nomination, according to aides.

The Wisconsin Republican is scheduled to deliver remarks to the press at 3:15 p.m., in the lobby of the Republican National Committee on Capitol Hill.

The Wisconsin lawmaker's name has been circulating as someone who could swoop in and become the nominee if the Republican convention in Cleveland is contested in July. But aides said Ryan would try to put an end to that speculation today.

"He's going to rule himself out and put this to rest once and for all," an aide told the Washington Examiner.

Ryan, 46, has repeatedly denied having any interest in becoming the nominee.

Ryan was the GOP's vice presidential nominee in 2012, running alongside Mitt Romney in an unsuccessful bid for the White House.