He has previously suggested that he would like to give up comedy for politics. The Standard revealed last year that Mr Izzard was Labour leader Ed Miliband’s preferred candidate.
Mr Izzard told the Labour List rally at the party conference in Brighton that he would go for the nomination ahead of the 2020 race. His remarks were greeted with cheers.
However, he will face questions over why he has no plans to go for the mayoralty in 2016. Although the field will be crowded — with MPs Tessa Jowell, Sadiq Khan and David Lammy among those interested — there is no overwhelming Labour frontrunner. Ms Jowell, who friends think would only stand for one term, opening the way in 2020, said: “Eddie is a man of enormous substance, generosity and conviction. His decision to do this is a vote of confidence in Labour.”