The list seat became available last week after former party whip Darren Hughes resigned following revelations he was being investigated for an alleged sexual incident.
An 18-year-old man complained to police after a night out drinking last month. Mr Hughes has denied any wrongdoing.
Following Mr Hughes' resignation announcement, then party president Andrew Little said it would be a logical for Ms Wall to take the place as none of the five members above her on the list were standing in this year's election.
Ms Wall, 39, came into Parliament briefly in 2008 when she replaced retiring list MP Ann Hartley.
She stood for the Tamaki Makaurau electorate in that year's election and lost to Maori Party co-leader Pita Sharples.
Last December, she was chosen to replace outgoing MP George Hawkins in the Manurewa electorate -- a safe Labour seat -- for this year's election.
Four members listed above Ms Wall -- Judith Tizard, Mark Burton, Mahara Okeroa and Martin Gallagher -- today confirmed they would not be returning to Parliament.
Ms Tizard, who was an Auckland Central MP for 18 years, announced her decision on TVNZ this morning, saying she had had discussions with leader Phil Goff on Friday.
"Phil said I was welcomed back. I have to confess, he sounded like he was chewing dead rats as he said it," she said.
Ms Tizard said if she returned to Parliament the case might be used as an argument against MMP.
When asked whether Mr Goff was the right person to lead Labour, Ms Tizard said she supported him, but did not give a ringing endorsement.
"I support him as long as he's leader, but I think he's got to ask himself, and the caucus have got to ask him, whether he can win the next election, because that's crucial for me and everyone."
Mr Burton announced his decision to not return to Parliament in a statement today, saying he had given the issue careful thought.
"I informed the party leader on Friday that this would be my decision should the question arise."
Mr Okeroa, a former cabinet minister, told NZPA this evening he would not be coming back to Parliament and that he had told Labour leader Phil Goff.
"I said that I've got a new space now, and that I have no intention of coming back to visit a past life for a period of six months at all."
Mr Okeroa said he had not felt coerced in his decision by Mr Goff, but that he had not appreciated Mr Little's input.
"He annoys me actually, he should just keep out of it."
Mr Gallagher also said he had not been pressured to make the decision.
"I'm more than happy to stand aside," he told NZPA.
"Obviously, I'm extremely happy being a Hamilton city councillor here ... and clearly I will be writing to the speaker when required to say that I will not be taking up the position.
"Should the others between me and Louisa Wall do the same thing, then I certainly wish Louisa well.
The remaining party member listed before Ms Wall, Dave Hereora, could not be reached for comment.
Mr Goff said he had made it clear to the other candidates the Labour caucus would welcome any of them back, but that he sensed the other former MPs had moved on in their lives.
"Each will be given the opportunity to make their own decision, but it is likely that the former MP who comes back will end up being Louisa Wall, Labour's candidate in Manurewa," he said.
"Louisa is a young and energetic person with a strong future in politics."
