The retired neurosurgeon added that he will skip Thursday's Republican debate in his hometown of Detroit.
"I do not see a political path forward in light of last evening's Super Tuesday primary results," he said in the statement Wednesday posted on his Facebook page. "However, this grassroots movement on behalf of 'We the People' will continue."
Carson also said he will address his future political plans during a speech on Friday in Washington, D.C.
The GOP hopeful briefly topped the polls last fall to rival frontrunner Donald Trump, but quickly lost steam after a series of foreign policy flubs.
Although Carson has not officially dropped out of the race, his statement Wednesday was markedly more resigned than one he made Tuesday night after the polls closed.
"I am not moved or discouraged when the political class count me out," he wrote on Facebook. "Millions of Americans plead with me to continue … As long we continue to receive their support, and the Lord keeps opening doors, I will remain in this presidential race."