Supporters of the Purdue University president had launched a "Draft Mitch" effort if Donald Trump names Pence as his vice presidential running mate.
Trump has announced that he will officially unveil his vice-presidential choice at 11am on Friday in NY.
Donald Trump postponed the announcement of his pick for vice president, citing the deadly mass killing in France, but also acknowledging indecision over the prospects.
Trump's pick coming days before the start of next week's Republican convention in Cleveland, where there's still some talk of a delegate rebellion.
The New York businessman had dinner with Pence on Tuesday night after they appeared together at a rally. He recently compared Trump to RonaldReagan, saying the billionaire "understands the frustrations and the hopes of the American people like no other American leader in my lifetime since RonaldReagan", according to The Washington Post.
Joined by daughter Ivanka and sons Donald Jr. and Eric Trump, Trump also had breakfast with Pence and his wife, Karen, on Wednesday at the governor's residence in Indianapolis.
According to the Republican familiar with the process, the frenetic day was made more complicated by the fact that Trump was in California for a series of fundraisers, isolated from almost all of his closest advisers, including his three adult children and his campaign chairman, Paul Manafort.
Trump himself told Fox News Channel's Greta Van Susteren Thursday: "I haven't made my final, final decision".
WLWT's Dan Griffin went to Indianapolis to speak with a friend and colleague of Pence's about the choice.
Last year, Mr Pence tweeted that Mr Trump's plan was "offensive and unconstitutional".
Another possible Trump running mate, former House Speaker Newt Gingrich, took questions in a Facebook Live broadcast Thursday afternoon and didn't confirm whether he was out of the running, but seemed to suggest it had come down to Pence and him.
His staunch conservative views on certain social issues, like gay rights and abortion, may inject a new set of concerns into the general election debate that have been largely overlooked with Trump at the top of the Republican ticket. "He's just done a tremendous job in IN just look at his record and accomplishments economically, he's one of the nation's more solid governors".
Pence has until noon on Friday to drop out of the race.
Mike Pence was born in Columbus, Ind. He attended Hanover College and graduated in 1981 before continuing on to his Jurisprudence Doctorate in 1986 from Indiana University School of Law.