From the prominent Hodgman family, Mr Hodgman is the brother of the late Michael Hodgman and uncle of Opposition Leader Will Hodgman, and was in State Parliament for 27 years.

Mr Hodgman held the seat of Huon as an independent in 1974 until 1986 when he resigned to run for the state lower house seat of Franklin, which he won.

He has been out of politics for 12 years after running unsuccessfully for the federal seat of Franklin in 2001.

``I feel reinvigorated,'' Mr Hodgman said.

The 67-year-old said he would bring a range of experience to the Legislative Council, including business skills.

He said it was good that experienced candidates as well as fresh faces were stepping up.

``I think there's a need for both,'' he said. ``I've stood the test of time. I'm a very young 67-year-old.''

Mr Hodgman would not have run if incumbent Huon MLC Paul Harriss had not resigned, and hoped they would not end up running against each other.

If preselected, his campaign would be based around deregulating businesses and removing red tape.

``It's all too hard to do business in Tasmania. You can't move. I have major concerns for Tasmania,'' he said.

Tasmanian Labor state secretary John Dowling said Labor had not decided if it would run a candidate against Mr Hodgman.

However, Premier Lara Giddings on Tuesday said Labor would be putting someone up.

Mr Hodgman said he would resign from his real estate job if elected and would phase out other business commitments.

Preselection is in January.