Former Prime Minister Ehud Barak has decided not to establish a new party, Reshet Bet radio reported on Wednesday.

According to the report, Barak has told his associates that he is not ruling out the possibility of joining a political bloc in which Labor will cooperate with such parties as Tzipi Livni, Adina Bar-Shalom, Orly Levy and others.

Barak hinted, however, that if former Deputy IDF Chief of Staff Yair Golan decides to join the Labor Party and wins the chairmanship, Barak’s return will be unnecessary. Golan, according to Barak, is an excellent person and worthy of the position of Labor leader.

Earlier this week, Channel 12 News reported that Barak is considering returning to the political arena and running at the head of an independent list.

According to the report, Labor MKs were pressed in recent days to approve Barak's appointment as interim chairman for a year, but rejected the proposal.

Barak last led the Labor Party in 2011, but then split the party and formed the short-lived Independence party before stepping down from politics ahead of the 2013 election.