Fred D. Thompson, the former senator of Tennessee, dropped out of the Republican race for president today.

The decision came after Mr. Thompson’s third-place primary showing on Saturday in South Carolina, a state he had once hoped to win, instead underscored the weakness of his campaign.

“I hope that my country and my party have benefited from our having made this effort,” he said in a statement. “Jeri and I will always be grateful for the encouragement and friendship of so many wonderful people.”

Mr. Thompson’s advisers said he would not make an endorsement in the race.

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Mr. Thompson, 65, rode in to the campaign powered by the high hopes of conservative Republicans who were disappointed with the field of candidates and hoped that Mr. Thompson — a television actor and former counsel to the Watergate committee — could rally conservatives behind him. But Mr. Thompson instead brought a phlegmatic style to the campaign trail, and his candidacy never took off.

His decision to drop out could potentially help Mike Huckabee, the former governor of Arkansas, who has competed for many of the same voters. Some Republicans suggested that Mr. Huckabee came in second in South Carolina precisely because Mr. Thompson had siphoned off much of his support, permitting Senator John McCain of Arizona to win.

But Mr. Huckabee has moved to scale back his own campaign after his South Carolina showing, and has backed away from plans to campaign heavily in Florida.

Assuming Mr. Huckabee does not reconsider, Mr. Thompson’s withdrawal could therefore be a boon for Mitt Romney of Massachusetts, who has aggressively sought to recruit Florida conservatives to his side.

Mr. Thompson had seemed to be a candidate from central casting, with his imposing height, his theatrical growl and a plain-spoken conservatism. Only last summer, he had many Republicans spinning dreams of Ronald Reagan resurrected.

“He has a presidential bearing,” Republican Tennessee Sen. Lamar Alexander said at the time.

He never achieved presidential traction, however. He ruminated for many weeks about whether to run. By the time he entered the race, much of the buzz had dissipated. His speaking style swung between folksy and laconic to the point of sleepy.

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