Yang said in the statement that he is experiencing mild symptoms and will continue to participate in virtual events.
“When the time is right, I hope to get back into the rhythm of the campaign and present a positive vision for the future of our city,” he added.
Two weeks ago, Yang announced that he was in quarantine after being potentially exposed to Covid-19 by a campaign official.
The positive test comes just weeks after Yang joined the busy mayoral race, promising to “revive” a city hit by the coronavirus.
He said the job of rescuing New York, where he lived for almost 25 years, from the devastation of the pandemic would require “bold ideas and a new approach” – an initial nod to his unique platform, which includes a localized version of “Universal Basic Income” who was at the center of his presidential race.
But in the early days his campaign for mayor suffered a pandemic-related gaffe when he responded to a report by Politico about how he left New York for his second home located north of the city during some of the darkest days of the pandemic in New York.
Yang, a businessman, suspended his presidential campaign in February 2020 and spent time as a CNN collaborator after leaving the election campaign.
This story has been updated with additional information.