"I will be seeking the nomination and then campaigning for the seat on a platform of ensuring that barriers to real opportunity, such as the current lack of quality affordable housing, are knocked down."
Mr Wood also paid tribute to the man who was first elected to the seat in 1981, Labour MP Phil Goff.
"He is a mentor and a friend and his able representation of Mt Roskill is a demonstration of the outstanding job he would do if elected mayor in October."
Mr Goff has announced he will stand down from politics in 2017 if he lost his bid for the Auckland mayoralty.
Mr Wood has been a local board member for more than five years, is active in the Labour Party in the role of policy council secretary, and is an experienced local campaigner.
Previously, he ran as Labour's Epsom candidate in 2014.