Short-lived speculation about a Campbell Newman comeback is over, with the former Queensland premier ruling out a run for federal politics.

Mr Newman sparked a mini political storm by not saying "no" when approached to consider replacing the retiring Teresa Gambaro in the federal seat of Brisbane.

But he has now decided not to attempt the move, saying his wife Lisa is against it.

"And I have business commitments that I can't extricate myself from," Mr Newman said.

Mr Newman said if retailers' advocate Trevor Evans put his hand up for LNP preselection, he would have his full support.

Federal Opposition Leader Bill Shorten earlier suggested the speculation Mr Newman would run might be a joke.

"April Fools' Day has come earlier," Mr Shorten said when asked about Mr Newman's potential candidacy.

Former LNP MP for Cairns Gavin King told the ABC on Thursday morning that the ex-premier was considering running, adding that Mr Newman had been contacted by "a couple of federal MPs [and] people from the national and the state executive of the LNP".