NEWTON — Mayor Setti Warren of Newton said Wednesday that he will run for a second term, ending months of speculation about his political plans.

“I love being mayor of my hometown,” Warren said. “I’m really excited about running again.”

Warren will be up for reelection next year, and is holding his first fund-raiser and launching his campaign next month.

Until Wednesday, Warren had been vague about his future.

After a short-lived bid by Warren last fall for US Senate, several high-profile speaking engagements this year on behalf of President Obama’s reelection campaign had stirred rumors that he was still interested in another job.

‘I love being mayor of my hometown. I’m really excited about running again.’

But Warren said that he wants to continue working on Newton’s capital and operational needs, and helping the city move forward. He said he will not attend the Democratic National Convention in Charlotte, N.C., next week.

Warren drew criticism last year from some Newton residents for pursuing higher office without finishing his first term as mayor. He dropped his bid to challenge Senator Scott Brown last September after being financially outgunned by fellow Democrat Elizabeth Warren.

Among the items still unfinished in Newton is Warren’s ambitious multimillion-dollar capital improvement program. He has recommended more than $240 million in expansions and renovations to school and city buildings. The mayor is scheduled to outline his proposal to pay for the capital improvements this fall.

The funding plan may include a request to raise property taxes through a Proposition 2½ debt-exclusion override, a process that would be expected to require aggressive lobbying from a committed mayor in order to win backing from the city’s voters.

Warren said that if reelected he would serve his entire four-year term.