The former John Lewis boss will contest next May's election, defending the position he won in 2017 when he became the region's first metro mayor and head of the West Midlands Combined Authority.
Having been selected this week bat a meeting, Mr Street said: “I am delighted to be selected to stand for re-election as West Midlands Mayor, and carry on the work we have been doing.
“By encouraging our seven boroughs to work together in a positive and productive way, we have laid the foundations for the success and renewal of the West Midlands.
“We are seeing pride restored in our region and the communities within it, and real economic growth that is providing jobs and opportunities while improving our standing on the national and international stage.
“However, while I am proud of our achievements since I became the first Mayor of the West Midlands, I am aware that after decades of relative decline there remains much to do. We have started the job, but more needs to be done to ensure we continue to move forward.”
The Labour Party is expected to announce its candidate in November, following a members' vote on Dudley councillor Pete Lowe and Birmingham MP Liam Byrne.
No other candidates have yet been confirmed.