Arie Luyendyk Jr. is the new Bachelor!

Ending weeks of speculation, the racecar driver made the announcement on “Good Morning America" Thursday morning.

Luyendyk, 35, is no stranger to the “Bachelor” franchise, having first appeared on season eight of “The Bachelorette” in 2012, when he tried unsuccessfully to win over Emily Maynard. Last year, he told Us Weekly magazine that previously, he’d had discussions about becoming the Bachelor, but it didn’t pan out until now.

Since Rachel Lindsay’s season of “The Bachelorette” ended last month, some fans questioned on social media whether contestants from her season might be tapped to helm the new season of “The Bachelor.” Third-place finisher Eric Bigger recently told People magazine that he had not been approached about the job, and in July, third runner-up Dean Unglert told ABC News that he needs to mature before pursuing a serious relationship.

Finally, Peter Kraus, whose emotional breakup with Lindsay immediately preceded her proposal from Bryan Abasolo, told reporters last month that he didn’t necessarily want to be the Bachelor either. At the time, he said he would “consider” the opportunity if it was offered to him, but, he added, “This entire process has been really tough.”

"Being the head of all this, being in Rachel's position, as I saw her go through it throughout the entire time, was a lot of pressure. You are the face of a franchise, you're the face of an entire population of people who love the show and love the people on it and that’s hard," Kraus said. "I can’t imagine what she has to go through and the decisions that she had to make, and that's why her decisions in the end, I do not blame her for anything. I do not hold anything against her for it. I wish her nothing but health and happiness and it’s got to be a really hard position to be in."

Luyendyk will appear on the 22nd season of "The Bachelor."

Watch WZZM 13s Kamady Rudd as she interviewed the future contestant earlier this year: