He will stand under the Conservative and Unionist banner, the joint ticket agreed with David Cameron's party.
At a meeting last night, Mr Empey received the unanimous backing of the local constituency association.
He succeeded David Trimble as Ulster Unionist leader in June 2005.
William McCrea, who is the sitting MP, re-took the seat for the DUP in 2005 with a majority of 3,448.
Other candidates who will stand this time around are Alan Lawther of Alliance and Mel Lucas of the TUV.
In East Derry, the former Ulster Unionist MP William Ross has announced he is re-entering frontline politics to stand for Jim Allister's Traditional Unionist Voice.
He held the seat from 1974 until 2001 when he lost to the DUP's Gregory Campbell.
Mr Ross, who is 74, is President of the TUV.
