Two days before the South Carolina primary, Republican Perry endorsed former GOP House Speaker Newt Gingrich.
Gingrich has been steadily gaining on frontrunner Mitt Romney in South Carolina polls.
Romney is a former governor of Massachusetts.
Perry said he made his decision after coming to the conclusion that there is no viable path forward for his presidential campaign.
When he entered the Republican presidential race, the well-funded Perry rode a tide of high expectations.
However, Perry never gained much traction after poor debate performances and poor showingsin GOP contests in Iowa and New Hampshire.