"I will be the greatest jobs president that God ever created," Trump said in a launch speech at his Trump Tower skyscraper in Manhattan.
The outspoken billionaire, widely seen as having little chance of winning the nomination, will certainly enliven proceedings as he joins an unusually large group of Republicans vying for the presidency.
Eleven Republicans have announced they are running for next November's election, the latest being former Florida Governor Jeb Bush who launched his candidacy on Monday.
Trump, 69, who owns several hotels and hosts the reality show "The Celebrity Apprentice" on NBC, toyed with running in past elections but decided against doing so.
Trump features 12th in a Reuters/Ipsos online poll of 13 Republicans who have either declared their candidacies or are likely to. Bush led the poll.
In other surveys, Trump has high negative ratings, with more than 50 percent of Americans saying they will never consider voting for him.
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