(AP Photo/Manuel Balce Ceneta)

Senator Jim Webb, who won his seat in a big pickup for Democrats during the 2006 midterm elections, will not seek re-election in 2012, reports the Washington Times.

“After much thought and consideration I have decided to return to the private sector, where I have spent most of my professional life, and will not seek re-election in 2012,” said Webb in a statement. In 2006, Webb defeated Republican incumbent George Allen after the latter made several flubs along the campaign trail. Allen has announced his plans to campaign to regain the seat next year. Webb had been reportedly struggling to raise funds for his re-election campaign.

The Democratic field now appears to be wide open, with some calling on former Virginia governor and current Democratic Party Chair Tim Kaine to run.