U.S. Rep. Greg Walden, the top Republican on the House Energy and Commerce Committee and Oregon’s only Republican in Congress, announced Monday that he will retire in January 2021.

Politico first reported Walden’s retirement, adding that the veteran lawmaker said he believes he would have won reelection in the 2nd District, which stretches across eastern and central Oregon.

“Based on recent polling, strong fundraising, and the backing of my wife and family, I am confident I could earn the support of 2nd District voters for another term. I’m also optimistic that a path exists for Republicans to recapture a majority in the House, and that I could return for two more years as chairman of the House Energy and Commerce Committee," Walden said in a statement given to news outlets. “But I also know that for me, the time has come to pursue new challenges and opportunities.”

“So, I will not seek reelection to the U.S. House of Representatives," he added, “nor election to any other office, but instead I will close the public service chapter of my life, thankful for the friends I’ve made and the successful work we’ve done together.”

In 2018, Walden won his 11th term in Congress by 17 percentage points in a three-way race in what had otherwise been a tough election cycle for Republicans. He faced off against Democrat Jamie McLeod-Skinner, who is currently running against two high-profile lawmakers for the Democratic nomination for Oregon secretary of state.

McLeod-Skinner, who ran a tireless campaign, touring the vast district in a Jeep pulling a teardrop trailer that she slept in, turned the tables and received 6,735 votes in Hood River County compared with 3,578 for Walden. She was considering her options in light of Walden’s announcement.

With the filing deadline for the 2020 primary looming in mid-March, it remains unclear who would run on the GOP side for Walden’s seat. The announcement took many Republicans in the state by surprise.

Walden, 62, becomes the 18th House Republican -- and the fourth GOP committee leader -- to announce plans to retire this election cycle.

Walden graduated from University of Oregon with a journalism degree and took over operations of his father’s radio station in Hood River -- and added another -- before winning his congressional seat in 1998.

The Hill reported on speculation by unnamed sources that Walden might succeed former U.S. Senator Gordon Smith of Oregon as the head of the National Association of Broadcasters.

In 2014 and 2016, Walden chaired the National Republican Congressional Committee, the PAC devoted to increasing the number of Republicans in the U.S. House of Representatives.

The committee’s current chair, Rep. Tom Emmer of Minnesota, said in statement that “Walden is a class act and political juggernaut who will be sorely missed in Washington. I spoke to Greg and he assured me that he will remain heavily engaged in ensuring this seat remains in Republican hands. "

Rep. Kurt Schrader, a Democrat in Oregon’s congressional delegation, was quick to praise Walden Monday. “He was a great chair of our Energy & Commerce Committee, always working to promote bipartisanship and fairness,” Schrader said in a statement. “I wish him the very best in his retirement and hope that he spends much deserved time with his family and enjoying the natural beauty of Oregon. He served Oregonians honorably for over two decades and his presence in Congress will be missed.”

The Associated Press contributed to this report.