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Former Pennsylvania Sen. Rick Santorum ended his run for the 2016 candidacy Wednesday evening on Fox News. Pictured: Santorum visits with supporters at a house party in West Des Moines, Iowa, Sunday. REUTERS

While saying farewell to his 2016 presidential aspirations, Rick Santorum endorsed Florida Sen. Marco RUbio for the Republican nominee on Fox News' "On The Record." The former Pennsylvania senator announced Wednesday night that he has ended his presidential candidacy, just two days after his lackluster performance in the Iowa caucus.

"We wanted to find a candidate that really espoused the values we believed in," Santorum said. We decided to support Marco Rubio."

In the 2012 presidential race, Santorum had a strong showing at the Iowa Caucus where he was declared the winner, defeating the eventual GOP nominee Mitt Romney. But at Monday night's caucus, Santorum was unable to garner enough support to earn any delegates.

“We just have one thing we want to say: Thank you so much to the people of Iowa for a wonderful experience over the past five and a half years, and for the great reception that you gave to me and to the wonderful boost that you gave to me four years ago. I will never forget it," Santorum told supporters Monday evening.

Santorum is the third Republican candidate to suspend his campaign after Monday's caucuses. Mike Huckabee and Kentucky Sen. Rand Paul also dropped out of the running this week.

With Santorum out of the running, there are nine candidates still duking it out for the Republican nomination. : In addition Rubio, businessman Donald Trump, Texas Sen. Ted Cruz, Ohio Gov. John Kasich, former Florida Gov. Jeb Bush, New Jersey Gov. Chris Christie, retired neurosurgeon Ben Carson, former Hewlett-Packard CEO Carly Fiorina and former Virginia Gov. Jim Gilmore all have Tuesday's New Hampshire primaries to look forward to.

The next Republican debate is slated for Saturday in New Hampshire, but the line-up has yet to be announced.