After filing his nomination papers, in a press conference, he said-"Office of Vice President is a different profile, has its functional norms. Hope I will be able to do justice. Grateful to PM."
"Honored to be a candidate for Vice President of India. I have been actively engaged in public life for over four decades," he added.
"India's strength and beauty lies in Parliamentary democratic system. It will be my endeavor to strengthen that further," Naidu said.
"Lost my mother at a very young age,treated my party as my mother and they brought me up to this level," he further added.
Opposition candidate Gopalkrishna Gandhi is yet to file his nomination.
The Opposition named Gopalkrishna Gandhi, a former governor, as their vice presidential candidate, last week, while Venkaiah Naidu was named as NDA's candidate on Monday.
The last date for making nominations for the August 5 vice presidential elections is ending on Tuesday, July 18, according to the schedule announced by the Election Commission.
Counting for vice presidential elections would take place on August 5.
The term of Vice President Hamid Ansari, who is also ex-officio Chairman of the Rajya Sabha, ends on August 10.
Meanwhile, on Monday, Prime Minister Narendra Modi said M Venkaiah Naidu was a fitting candidate for the office of Vice President. He made the statement soon after the senior BJP leader was chosen as the ruling NDA's candidate.
Modi described 68-year-old Naidu as a farmer's son who "brings years of experience in public life and is admired across the political spectrum".
He said he always admired the hardwork and tenacity of Naidu, currently a minister in his Cabinet holding the portfolios of Information and Broadcasting and Urban Development.
"I know @MVenkaiahNaidu Garu for years. Have always admired his hardwork & tenacity. A fitting candidate for the office of Vice President," the prime minister tweeted, soon after the announcement of the decision of BJP's Parliamentary Board, the highest decision-making body of the party.
"The years of Parliamentary experience @MVenkaiahNaidu Garu has will help him discharge the important role of Rajya Sabha Chairperson," Modi added.
(With inputs from agencies)