Angela Eagle will announce her bid to become the Labour party's next leader on Monday after peace talks between warring factions collapsed.
Ms Eagle said she would "explain my vision for the country and the difference a strong Labour Party can make" on Monday, the BBC reported.
She recently resigned from her position of shadow business secretary saying that current leader Jeremy Corbyn had failed to "lead an organised and effective party".
Earlier today the party's deputy leader Tom Watson called off talks aimed at striking a compromise deal between Jeremy Corbyn and party rebels.
He said Corbyn's declaration to "continue as leader come what may" meant there was "no realistic prospect of reaching a compromise" between the unions largely support the embattled leader and key members of the Labour party.
He continued: "It is with regret and profound sadness that I have concluded there is little to be achieved by pursuing wider conversations with our union affiliates at this time."
A challenge to the leader has long been predicted by party insiders, with Pontypridd MP Owen Smith also expected to stand.
Corbyn has so far defied an internal revolt over his half-hearted campaign to remain in the European Union, as well as concern about his ability to win another General Election which could take place sooner-than-expected.