The ABC's Drum website has received a statement from Mr Oakeshott that confirms his intention to make a bid for the position.
In the statement he says he is open to a nomination by other MPs.
"In light of parliamentary reforms that will allow greater participation in constituency issues from the Speaker's chair ... if nominated by a fellow MP, I would accept that nomination when Parliament returns on September 28," he said.
"I am aware 149 other parliamentary colleagues have a say in who is to be the Speaker in the next Australian Parliament, and in the end, I accept the collective view either way."
"Whoever fills this role will have a great chance to drive the changes for a better Parliament."
Mr Oakeshott, who last week sided with Labor to form a minority government, turned down an offer from Prime Minister Julia Gillard for a ministry position.
Under reforms secured by the independents, the speaker's position does not necessarily have to come from the party in government.
