Glenn Lazarus has become the latest Senate crossbencher to form a party named after himself, following in the footsteps of senators Jacqui Lambie, Nick Xenophon and John Madigan.

Senator Lazarus has lodged paperwork with the Australian Electoral Commission to form his own party named the Glenn Lazarus Team. Senator Lazarus' six-year term is not due to expire until 2020, but if Prime Minister Tony Abbott calls a double dissolution election as some are speculating, he could face the polls as early as this year.

Senator Glenn Lazarus is going to form his own party. Credit:Alex Ellinghausen

He told Fairfax Media he was looking to build his own team to represent Queensland better, especially on issues of cleaner and cheaper energy, higher unemployment, drought and economic growth.

"I have worked with some excellent high performing teams for most of my life," he said.