Allen's campaign manager, Mike Thomas, announced the decision in a press release Monday.
The former governor who's trying to win back the Senate seat he lost in 2006 had been asked repeatedly by others in the GOP field to debate ahead of the June primary.
Allen's rivals in the GOP field include tea party leader Jamie Radtke, businessman Tim Donner, Chesapeake minister E.W. Jackson and lawyer David McCormick.
Former Gov. Tim Kaine leads a Democratic field that includes businessman Julien Modica and businesswoman Courtney Lynch.