The Liberal Party candidate who lost Malcolm Turnbull's old seat at the recent federal by-election has been endorsed to have another shot at winning Wentworth.

And just as he hasn't deserted the blue-ribbon seat in Sydney's east, Dave Sharma has urged Liberal voters and supporters not to abandon the party.

Mr Sharma's second tilt for Wentworth was announced on Saturday after the party's state executive endorsed him as the candidate on Friday night.

The decision allows the former Australian ambassador to Israel to skip another preselection vote, only months after one in mid-September.

He later became the first Liberal candidate in 72 years to lose Wentworth when independent Kerryn Phelps triumphed by 1850 votes (1.22 per cent) in the October 20 vote.

Mr Sharma said he was under no illusions about the challenge he'd face at an expected May federal election, acknowledging the dissatisfaction from people who'd normally strongly support the party.

"I would say to those people: get involved, help rebuild the party, select the candidates you want to see in parliament, get involved in the policy debates," he told reporters on Saturday.

"Don't desert the party."

In the weeks since the by-election, Mr Sharma has been reported as a possible candidate for the Senate and former prime minister Tony Abbott's northern Sydney seat of Warringah.

But, having recently bought a family home in the area and enrolling his kids in school for 2019, he said he was committed to Wentworth.

He said the area was one the party must win to have any chance of remaining a strong political force - whether in government or not.

"If I'm the best candidate to do that, I wouldn't want to shy away from that."

Asked about Mr Abbott's latest public declaration to return to the top job, Mr Sharma said he respected Mr Abbott.

But he said he thought people would prefer the government focus on the issues that matter to them, and not have internal debates conducted publicly.

The 43-year-old father of three said he hoped the decision on preselection so far out from election would allow the community more opportunity to learn about him, his young family and what he stands for.

Prime Minister Scott Morrison said he looked forward to campaigning with him for lower taxes and a stronger economy.