WASHINGTON – Senator McCain, a Republican of Arizona, said yesterday he is not ruling out a run for the 2008 presidential nomination, but that he is not a candidate now. A decision to run, if one should come, would not be made for at least two years, said Mr. Mc-Cain, speaking only a few weeks after the 2004 campaign ended with President Bush winning a second term.

“Look, I’m not running for president,” Mr. McCain told NBC’s “Meet the Press,” and added: “I do not foreclose the option.”

Mr. McCain, a senator since 1986, made a strong run for the Republican nomination in 2000 but lost to Mr. Bush in a bitter campaign.

Still, Mr. McCain lent his support to Mr. Bush’s re-election campaign this year after rejecting overtures from Senator Kerry to join the Democratic ticket as the vice presidential candidate.

“There will be plenty of time to consider whether to run for president again, but certainly I don’t think it’s in any way appropriate for me to speculate on that at this time,” Mr. McCain said on NBC.

He was asked when that time might come. “I would think at least not for a couple of years,” Mr. McCain said.

“You know, the president hasn’t even been inaugurated yet. Isn’t it a little unseemly for any of us to start on that path again?”

At least one prominent Republican, Senator Hagel of Nebraska, already has said he is considering a 2008 run for the White House.

If Mr. McCain were to run, he would turn 72 on August 29, 2008, at the height of the campaign. Only President Reagan was older at his inauguration – 73 at the start of his second term.

Asked whether age might be a factor in his decision whether to run, Mr. Mc-Cain said: “Yes, I think that would have to be a consideration,” he replied. However, he said, “I have a wonderful mother who is 92. Maybe I could use her as an example.”