The Assembly of First Nations will elect a new national chief in Winnipeg this December.
Atleo quit amid criticism from First Nations leaders over his support for the federal government's proposed bill for aboriginal education.
Picard has been doing the job of national chief since July when First Nations leaders chose him to replace Atleo during the AFN's annual general assembly in Halifax pending a new election in December.
Until recently, Picard was the AFN regional chief for Quebec and Labrador.
He made the announcement during meetings in Quebec City earlier today.
More to come