He did not win, but placed third behind incumbent Boris Yeltsin and the Communist Party leader Gennady Zyuganov, with roughly 14% of the vote nation-wide.
Lebed later served as the Secretary of the Security Council in the Yeltsin administration, and eventually became the governor of Krasnoyarsk Krai, the second largest Russian region.
The general also played a key role in ending the military phase of the conflict in Moldova between Transnistrian separatists and the Moldovan government in 1992, as the commander of the Russian 14th Guards Army which intervened and occupied the region.
Although Lebed was compared by some Western and Russian analysts to Augusto Pinochet and Napoleon Bonaparte, he was considered to be the most popular candidate for the presidential election of 2000 during the second term of President Yeltsin.
After getting elected as governor of Krasnoyarsk Krai in 1998 with strong support from Anatoly Bykov, however, he decided to stay in that position and did not run for president, despite calls for him to do so.
His father was a carpenter who was sentenced to seven years in a Gulag labor camp for arriving late to work twice, and witnessed the Novocherkassk massacre in 1962.
[7][9][11] Despite this, Lebed remained hostile to the separatist leadership, which he perceived as corrupt and stated that he was "sick and tired of guarding the sleep and safety of crooks.
"[9][11] Nonetheless, he remained against President Boris Yeltsin's decision to withdraw most of the 14th Army from Moldova, as he feared it would bring back chaos to the region.
[13] The event, along with his past service record, ensured that Lebed was the most popular military officer in Russia during that time, and by 1994 he was considered to be a favorite candidate for potentially running against Yeltsin in the 1996 Russian presidential election.
[14][16] After catching public attention with his actions in Moldova in 1992, the general came to be perceived as being an honest, anti-establishment patriot who stood against government corruption and wanted to restore order.
[14] Shortly after winning a seat in the State Duma, Lebed officially launched his long-anticipated campaign for the Russian presidency in the 1996 election.
[23] Shortly after taking office as chairman of the Security Council, following Yeltsin's victory against Zyuganov in the July 1996 runoff, Lebed led negotiations with the Chechen President, Aslan Maskhadov.
After Chernomyrdin and Kulikov made their accusations, it caused a scandal that led to the President firing Lebed as national security chief.
He also visited President Clinton's inauguration while he was there, at the invitation of Senator William Roth, who made the request at the behest of an unknown businessman.
[33] On 7 September 1997, Lebed alleged during an interview that a hundred Soviet-made suitcase-sized nuclear weapons designed for sabotage "are not under the control of the armed forces of Russia".
[34] In 1998, the general decided to run for governor of the Krasnoyarsk Krai (the second largest region in Russia), wanting to get out of the politics in Moscow after his ouster from the Yeltsin administration.
[31][33] However, in March 1997 Lebed stated that he believed its expansion would destabilize the alliance and that it was the result of Cold War thinking, which would cause Russia to become authoritarian in response.