"I believe that Joe Biden will be the Democratic nominee and I've said I was always going to support whoever the nominee is. I hereby am endorsing Joe Bien to be not just the nominee of Democratic party, but for the next president of the United States," Yang told a CNN panel on Tuesday night.
Yang, who became a CNN commentator after withdrawing from the 2020 race in February, said he previously supported Sen. Bernie Sanders, I-Vt., in 2016, calling him an "inspiration" and encouraged his own presidential bid, but said "the math says Joe is our prohibitive nominee."
"We need to bring the party together," Yang continued. "We need to start working on defeating Donald Trump in the fall."
Yang warned Biden that if he campaigned on "returning to business as usual," he will risk losing the young voters who supported Sanders as well as his own campaign.
The businessman wasn't the first 2020 dropout to endorse Biden this week. Senators Kamala Harris, D-Calif., and Cory Booker, D-N.J., formally endorsed the former vice president on Monday.
Ahead of Super Tuesday, Biden racked up the endorsements of Sen. Amy Klobuchar, D-Minn., former South Bend Mayor Pete Buttigieg and former Texas congressman Beto O'Rourke.
Sanders also has support among his former competitors, including New York City Mayor Bill de Blasio, spiritual guru Marianne Williamson and former Sen. Mike Gravel.