Rory Stewart has dismissed rumours of standing to be an Oxford University chancellor candidate, saying "there are much better candidates than me".

The ex-minister took to social media on Thursday to set the record straight. 

This comes as he was previously viewed as a front-runner for the position, with William Hill openly betting on Oxford’s next chancellor in February, naming Mr Stewart as the front-runner. 

READ MORE: Oxford LTN cameras divide opinion amid taxi group praise

Speculation stirred after Lord Patten of Barnes, the former Conservative party chairman, announced his intentions to retire from the role earlier this year having held the position since March 2003.

In a statement ruling himself out, Mr Stewart said: "More election news when everyone’s had enough.

"There’s been talk of me as a candidate for Oxford chancellor.

"There are much better candidates than me for Oxford.

READ MORE: Bicester driver, 24, disqualified after causing injury

"I won’t be standing. Good luck to those who are. It’s an amazing role."

The former politician hosts The Rest is Politics podcast with former Labour Party spin doctor Alastair Campbell.

He studied history and philosophy, politics and economics (PPE) at Balliol College.