"Decision on forming the Third Front will be taken after seeing the result of the 2014 polls," Yadav told a press conference after the party's two-day national executive meet here.
"We are not for coalition as of now and will not join hands with Left or Right parties," he said.
Yadav said that both the big national parties, Congress and BJP, were "becoming weak" and fighting among themselves and there was a possibility of an early Lok Sabha polls.
"Both Congress and BJP have failed to fulfill people's aspirations for which SP will have to step in," Yadav said.
To a query, Yadav said SP would fight the polls alone on its own strength.