In a statement following a meeting of its Shura Council, the Movement of Society for Peace - Algeria's Muslim Brotherhood - asserted linked the decision to "the authorities' monopoly of the presidential elections in total disregard of the opposition's demands for guarantees for fair polls."
On Wednesday, the ruling National Liberation Front (FLN) said it would back President Abdelaziz Bouteflika for a fourth five-year term.
Bouteflika, 76, has ruled the North African country since 1999.
He has not yet officially announced plans to run for a fourth term.
Former premier Ali Benflis has announced plans to contest the April 17 election.
Ahmed Benbitour, a former prime minister who resigned in 2000 following disagreements with Bouteflika, also intends to run for the top post.