The Liberal Democratic Party of Russia on Tuesday nominated Vladimir Zhirinovsky as its presidential candidate by a vote of 169 to 9, reported Xinhua.
The 65-year-old Zhirinovsky voted against his nomination, saying that he wanted to encourage "pluralism" in the party.
As a veteran politician, Zhirinovsky has taken part in five of all the six presidential elections in Russia since the collapse of the Soviet Union.
His Liberal Democratic Party took 11.6 percent of the votes in the recent Russia State Duma election, comparing to the 19 percent of the Communist Party and the 13 percent of A Just Russia party.
Earlier, the ruling United Russia party nominated Vladimir Putin as its presidential candidate. And A Just Russia Party nominated its leader Sergei Mironov.
The Communist Party has not yet nominated its presidential candidate.
Meanwhile, the speaker of Russian State Duma, Boris Gryzlov, resigned on Wednesday as his second term was about to expire.
The 60-year-old said it was not right to hold the speaker's post for more than two consecutive terms and he will no longer work in the State Duma.
But he said he will remain as a member of the ruling United Russia Party.
According to a top United Russia party official, a new speaker will be chosen before the 6th Duma starts its first session on Dec. 21.
He said the new speaker would most likely be from the United Russia Party, which took more than 49 percent of the vote in the recent State Duma election.