"I am proud to endorse Donald J Trump for President of the United States of America," Palin, a Tea Party icon, told a cheering crowd of Trump supporters at a rally in Iowa yesterday.
"Media heads are spinning! This is going to be so much fun!... Are you ready to make America great again?" Palin asked cheering crowd making her surprise announcement.
It came the same day that Iowa's Republican governor, Terry Branstad, said he hoped that Texas Senator Ted Cruz would be defeated in Iowa. The February 1 caucuses are a must-win for the Texas senator, who is running neck-and-neck with Trump in state polls.
Trump said he is proud to receive Palin's endorsement.
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"Sarah Palin's support is a testament to my message to 'Make America Great Again'," he said.
Palin served as the Governor of Alaska before being selected as Senator John McCain's Vice Presidential nominee in 2008.
As the first ever female Vice Presidential candidate for the Republican party, Palin is a highly influential, decorated public figure having been named as one of the Smithsonian Institute's 100 Most Influential Americans of all time.
In his speech, Trump said he would "love" to have Palin serve in as a Cabinet member in his administration.
"She really is somebody who knows what's happening and she's a special person. She's really a special person and I think people know that," he said.