Announcing the decision, NCP's Delhi Pradesh president Kanwar Pratap Singh said the party will project itself as an alternative to the Congress and BJP.
He said selection process of candidates has already begun and the final list will be announced soon.
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He said party president Sharad Pawar and other senior leaders like Tariq Anwar and Praful Patel will take "an active part" in the polls.
Presenting NCP as an alternative to Congress and BJP, Singh said it is ready to put up a "serious" fight and not just to "facilitate or scuttle victory" of any party.
Attacking the Sheila Dikshit government, he said it failed to fulfil the promises it had made to people before assembly polls in 2008.
"The citizens of Delhi have been taken for a ride by the present Congress Government, which has failed to fulfil its promises whether it is related to regularisation of unauthorised colony, women security or giving employment to youth," Singh said.
He said the party will fight the election on two major issues -- inflation and unemployment.
"We have received an overwhelming support from people during our Jan Chetna Abhiyan which was launched two months ago. Our party workers went door to door and listened to the problems of people. The feedback is that citizens are agitated with Congress. People have discarded the Congress Government while they have no faith in BJP," Singh said.
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