Villar is one of at least three contenders for the Senate leadership, the two others being Senate Majority Leader Juan Miguel Zubiri and Sen. Sherwin Gatchalian.
"Wala nang SP race," Villar told reporters in an ambush interview posted by Philstar.com, adding that she was no longer interested in the Senate presidency.
Villar's announcement came after Marcos met with Zubiri and House Majority Leader Martin Romualdez on Tuesday to discuss his administration's legislative agenda.
Romualdez, a cousin of Marcos, is also being pushed by his colleagues in the House of Representatives to be the next Speaker.
Sen. Imee Marcos previously said that her brother was unlikely to endorse someone for the Senate presidency.
"As you're well aware, the separation of the three branches of government. Hindi tayo nanghihimasok sa executive. Ang executive, hindi papakialaman ang judiciary and so on and so forth. Kasi hindi naman siya tama," she added.
The Senate is expected to vote for its new president on July 27 during the opening of the 19th Congress, the same day that president-elect Marcos delivers his first State of the Nation Address.