Premier Will Hodgman has announced he will leave Tasmanian Parliament.
He addressed media this afternoon, saying he would leave the leadership position and as a parliamentarian.
The decision follows a lengthy cabinet meeting this morning.
Mr Hodgman said he had been a politician for the entirety of his children's lives.
"There is no denying that this job impacts your personal life and that of your family," he said.
"I've taken time to reflect with my family over the Christmas period ... and it is unlikely that I would want to recontest the next election."
He said he arrived at the decision to leave politics over the weekend.
Mr Hodgman said he believed now was the right time for renewed leadership.
He said the decision over a new leader was a matter for the parliamentary Liberal Party which would meet next week.
He thanked Deputy Premier Jeremy Rockliff for his support over 14 years and Treasurer Peter Gutwein for his work in managing the state's finances.
Mr Hodgman entered Parliament in 2002 with Mr Rockliff and Mr Gutwein.
He was named Opposition Leader when Rene Hidding retired from the position following the 2006 election.
Mr Hodgman missed out on serving as Premier following the 2010 election which delivered a hung parliament.
This resulted in Governor Peter Underwood asking then-Labor Premier David Bartlett to test his numbers on the floor of the house which won support from the Greens.
Mr Hodgman eventually led his party to a convincing win in 2014.
The margin between the opposition parties was narrowed in the 2018 election when the party returned as a one-seat majority.
The majority government status has been tested by House of Assembly Speaker Sue Hickey with whom the government has had to negotiate over a number of issues.
Ms Hickey threatened to leave the party last year.