Treasurer Chris Bowen is not interested in serving as the leader of the Australian Labor Party (ALP), left vacant after outgoing Prime Minister Kevin Rudd quit from the post following the party's debacle in the Saturday federal election.

Mr Bowen said he is available for other positions, including the shadow treasurer.

"There's an obligation on each of us to make ourselves available for positions of leadership if we feel genuinely that we are the best possible candidate at any particular time ... Equally, there's an obligation not to put our names forward if we don't feel that," The Sydney Morning Herald quoted Mr Bowen.

With his decision, it leaves Bill Shorten and Anthony Albanese are the frontrunners to lead the party, which will be the Opposition in the new Parliament.

The two Labor officials are reportedly studying their options and assessing the support of the caucus, ALP members and discussing their options with their families.

If Mr Albanese opts to run, he would not be opposed, although he has not given ALP colleagues clues as to his intention, even as he said that Mr Shorten would make a good leader.

But Mr Shorten is still undecided if he would run for ALP leader. A Labor insider said Mr Shorten is conscious of the pressure such a position would place on his family, and for him to be convinced to run, he wants to be ensured the ALP would unite behind him.

Former ALP leader and ex-Prime Minister Julia Gillard is definitely not returning to her old post because is the party's last leadership spill, she and Mr Rudd agreed that the loser would permanently leave politics. And she has kept her promise, so far.

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