Toronto Mayor John Tory says he will seek a third term at the helm of Canada's most populous city.

The announcement brings to a close months of speculation about whether he would run for re-election this fall.

Tory says he's running again because he believes Toronto deserves "an experienced leader" to steer the city out of the pandemic.

Tory was first elected in 2014 with 40 per cent of the vote, replacing former mayor Rob Ford.

He won his second term with more than 60 per cent of the vote.

Ontario's municipal elections are set for Oct. 24.