The 49-year-old, who backed Julia Gillard to become prime minister after the 2010 election when he held the neighbouring seat of Lyne, retired in 2013 before unsuccessfully running in Cowper in 2016.

Speculation that Mr Oakeshott would make a fresh bid for Cowper - which covers the NSW north coast including Port Macquarie and Coffs Harbour - has been rife since incumbent Nationals MP Luke Hartsuyker announced in August he was retiring.

"Independent members of parliament can achieve great results for their electorates - I have delivered for our region before and I will do it again," Mr Oakeshott said in a statement to AAP on Tuesday.

Mr Oakeshott says an experienced local voice is needed to ensure the concerns of the electorate are heard and residents receive the attention and resources they deserve.

The one-time state MP for Port Macquarie believes locals are frustrated at coming second to "dysfunctional party politics", and being overlooked while billions of dollars are spent on road and rail blowouts in Sydney.

If he was to win, he would look to reverse under-investment in local infrastructure, help small businesses and boost education and aged care funding in the region.

"Competition is a wonderful thing in politics," Mr Oakeshott said in a Facebook post titled "I'm running".

"It allows all community groups, all citizens in our local area, to put pressure on politicians to get the results we deserve."

Mr Oakeshott in 2016 secured 26 per cent of the primary vote as an independent and 45 per cent on a two-candidate preferred basis despite only announcing his run three weeks before polling day.

This time he will be up against Nationals candidate Patrick Conaghan - a Port Macquarie lawyer - as well as Labor's Andrew Woodward and Greens candidate Sally Townley.

Morrison government minister Simon Birmingham was quick to attack the candidate on Tuesday.

"Rob Oakeshott has form and a track record that the last time he stood in a coalition seat and was elected he backed a Labor government," the South Australian senator told reporters.

"If people in that electorate (Cowper) want to pay higher taxes - if they want to see a Labor government that taxes retirees, superannuants, pensioners, homeowners and investors more - then they should vote for the Labor party."

Australian Associated Press