With only a few months left in office, Schwarzenegger shared with Jay Leno that his political aspirations aren't over, but the U.S. Constitution prevents foreign-born citizens from becoming president.
However, the change would be a long, tough road. Constitutional amendments must be approved by a two-thirds majority of the House and Senate, plus ratified by three-quarters of state legislatures.
An online "Arnold For President" petition has garnered fewer than 1,200 supporters. The next best thing may be to work for a president. While he is a Republican, his "green" credentials could make him attractive to a Democratic administration, like Obama's.
On Friday, Schwarzenegger lauded a Chinese company for locating its North American green products headquarters in LA.
"As I've always said, what is good for the environment is also good for the economy," said Schwarzenegger.
"We're getting indications that within Schwarzenegger's own camp that he's very interested in having more national visibility," said ABC7 political analyst Bruce Cain.
Of course, the bodybuilder-turned-actor-turned-politician could go back to Hollywood where Schwarzenegger could actually be president in a movie -- remember Demolition Man? That movie makes light of the idea that there could be a library named after Schwarzenegger after becoming the president.
The aging action hero has already shot a cameo in Sylvester Stallone's upcoming movie, "The Expendables," but he's not president there.
Like so many other high-profile figures these days, Schwarzenegger may very well delay his next political move for awhile, and write a book about his days in Sacramento. We all know how lucrative that has turned out to be for people like Sarah Palin.