His anticipatory bail granted by the Delhi high court also expired on Friday.
The move comes after the Allahabad high court on Wednesday dismissed his plea for quashing the FIR against him.
BJP spokesperson Balbir Punj said it is upto Varun to decide his future course of action.
"It is upto Varun Gandhi to decide whether he wants to move court for extension of his bail or he wants to face it and offer himself for courting arrest. In either case, he is working within the parameters of the law," Punj said.
The FIR was lodged against Varun in Pilibhit on the direction of the election authorities after CDs containing his anti-Muslim speeches surfaced.
The Election Commission has already censured 29-year-old Varun and suggested that BJP should not field him as a candidate.