In November 2010, Goode joined the executive committee of the Constitution Party, having previously been a member of the party's larger national committee. According to the party's national field director, Gary Odom, Goode "has made it clear to members in private and public comments at the meeting and prior thereto that he has a strong interest in seeking the party’s nomination" for the presidency," and the party sent out a promotional mailing in June 2011 saying that Goode "has expressed a strong interest in seeking the Constitution Party Presidential nomination in 2012." He told The Roanoke Times in June 2011 that he would "consider it as the year progresses."
Goode filed with the Federal Election Commission as a presidential candidate on February 10. He told The Daily Caller on February 16 that he was running for the Constitution Party nomination.
Goode was selected as the party's 2012 presidential nominee on April 21, 2012 at the 2012 Constitution Party National Convention in Nashville, Tennessee.