But he added that if Daley should decide not to run, he would consider running for the post himself some day.
"That's always been an aspiration of mine even when I was in the House of Representatives," he said, according to the Chicago Tribune.
The Chicago-born Emanuel is a one-time Daley aide and longtime Daley supporter, but in January, the Washington Post published a report that said Emanuel was considering a mayoral run.
When asked directly about the report and whether he would run, Rahm said "No. No, I won't."
Now we know Emanuel meant he wouldn't run against Daley, whom he calls a "very, very dear friend," and would wait for another opportunity.
Until then, Emanuel said he is completely focused on doing a good job as President Obama's chief of staff.