The 77-year-old is now the Democratic front-runner and the only candidate who can realistically beat Donald Trump.
The question now for Mr Sanders is whether he can stand out in a crowded field of Democratic presidential candidates who also embrace many of his policy ideas and are newer to the national political stage.
Sanders's announcement comes after progressive groups launched an effort to encourage him to run by holding nationwide house parties to demonstrate the strength of his support following his last campaign.
Shortly after the interview aired, Sanders released a video on Twitter, announcing his presidential run.
Ray Buckley, chairman of the Democratic Party in New Hampshire, an influential state with an early nominating contest where Sanders won 60 percent of the vote in 2016, said Sanders' inner circle of top supporters there is largely with him. In his CBS interview, he noted that he is a member of the Democratic leadership and caucuses with the party, but said that the party needed to reach out to those who don't identify with a party. The idea that we have got to raise the minimum wage to $15 an hour", he told Vermont Public Radio."When I talked about making public colleges and universities tuition-free and lowering student debt, that was another issue that people said was too radical.
Sanders has spent much of the past few years spreading his message and developing relationships with like-minded officials and activists during exhaustive travels around the country - with a particular eye on states won by Trump in 2016 - and via his unrivaled digital operation.
Sanders is running against other notable candidates, such as New Jersey Senator Cory Booker, California Senator Kamala Harris and Massachusetts Senator Elizabeth Warren.
"I'm running for president, because we need to make policy decisions based on science - not politics", Sanders wrote in an email to supporters on Tuesday.
President Donald Trump's campaign claims Vermont Sen.
In office, Senator Sanders became the best-known democratic socialist in American politics, bringing new development to the city while building ties to global left-wing movements.
"You know what's happened in over three years?" he said.
"What they experienced was absolutely unacceptable and certainly not what a progressive campaign or any campaign should be about", Sanders said at a news conference in January. "We're going to win", Sanders tells John Dickerson about what's different this time around, but it's far more likely that Sanders will get lost in the background, the same way he did for most of his political career before 2015. He is also planning to reintroduce his Medicare for all legislation in tandem with Washington Rep. Pramila Jayapal, who has taken over developing and shepherding the accompanying House bill.
His campaign will also have to address lingering anger between his supporters and supporters of Clinton, who blame Sanders's extended primary campaign for hurting her in the general election.
After graduating, Mr Sanders worked on an Israeli kibbutz and moved to Vermont, where he worked as a carpenter and filmmaker.