Arizona Gov. Jan Brewer (R) announced Wednesday that she will not seek a third term, ending months of speculation that she might challenge state law in order to seek four more years in office.

"There does come a time to pass the torch of leadership. After completing this term in office, I will be doing just that," Brewer said in a speech at the school her children attended.

Brewer had left the door open to running for a third term even though Arizona law limits governors to two terms. She has argued that because she took over for Democrat Janet Napolitano more than halfway through Napolitano's term, she may be exempted.

Several Republicans have already lined up to run for Brewer's seat including Secretary of State Ken Bennett and state Treasurer Doug Ducey. Democrat Fred DuVal has the inside track on other side. Republicans are favored to hold the seat given Arizona's conservative tilt.

Brewer became governor in 2009 and won a full term in 2010. She has been at the center of big legislative debates that have stoked national controversy over immigration and gay rights. She recently vetoed a bill that would have allowed businesses to refuse service to gays and lesbians if it violates their religious beliefs.​