David Alexrod with President Obama (Photo Courtesy The White House)

"I'll be going back - coming back here - to Chicago and beginning to work on that project," he said, referring to the organization of Obama's re-election campaign, "sometime in the spring, late winter, early spring."

Axelrod was speaking to Fox from Chicago, from where he organized the successful 2008 campaign to elect then-Senator Barack Obama to the presidency.

For more on Axelrod's announcement, read here.