Bajpayee said he was confident the BJP will now bag at least 50 of the 80 seats in Uttar Pradesh.
The BJP won only 10 seats in Uttar Pradesh in 2009 and is desperate to push up the tally dramatically if it wants to make a pitch for government formation in New Delhi.
BJP strategists say Modi's candidature in Varanasi will galvanize voters and party supporters alike.
Modi replaces outgoing Varanasi MP and BJP stalwart Murli Manohar Joshi, who will now contest from Kanpur.