Following the resignation of Premier Will Hodgman on Tuesday, political analysts are yet to name a clear successor with Deputy Premier and Education Minister Jeremy Rockliff, Mr Gutwein and Infrastructure Minister Michael Ferguson tipped as the top candidates.

Mr Gutwein has held the role of treasurer since the Liberal party came into government in 2014.

A qualified financial adviser with a post graduate qualification in business administration, Mr Gutwein worked in financial services in Australia and Europe before turning his hand to politics.

No matter who becomes premier, Mr Hodgman's resignation has triggered another cabinet shake-up.

The reshuffle will, at the very least, see Mr Hodgman's portfolios of tourism, trade, advanced manufacturing and defence industries, and prevention of family violence distributed among government members but may also see key portfolios held by Mr Gutwein and Mr Rockliff passed on if either were to become premier.

Labor premier-treasurer from 2011 until 2014 Lara Giddings said having both portfolios at the same time was a big task.

"In an ideal world you'd certainly have separate roles in treasurer and premier but it's not impossible to do both," Ms Giddings said.

Ms Giddings said one of the reasons she did not give up the treasurer portfolio when she took over as premier from David Bartlett in 2011 was because she was dealing with a global financial crisis.

"[There was a] need for consistently during a time where we were dealing with a huge loss of revenue due to circumstances totally out of our control," she said.

"Times are very different now.

"This government has benefited from economic recovery internationally and nationally and it's not so imperative right now that you have the premier who also has the treasurer role.

"I could understand if Peter Gutwein ended up as premier and his desire was to continue on in the treasurer role. There's no reason why it can't happen but in an ideal world it's better to have those roles separated."

Tasmanian Chamber of Commerce and Industry chief executive Michael Bailey said, if the Parliamentary Liberal Party chose Peter Gutwein as its next leader and premier of Tasmania, he would have no concerns about combining the roles of premier and treasurer.

"Peter Gutwein has been an excellent treasurer and if his Liberal Party colleagues select him as their leader, he will be a very good premier," Mr Bailey said.

"In the past Tasmania has had several premier-treasurers - former Liberal premier Ray Groom and former Labor premier Lara Giddings to name two.

"Whoever becomes premier, it will be their job to decide on who will best fill cabinet positions and portfolios."

Labor leader Rebecca White said there were a lot of questions surrounding who would be in charge of key portfolios.

"There is no doubt there will be a cabinet reshuffle and that creates instability and uncertainty for Tasmania, given we only had a reshuffle of key portfolios six to seven months ago," Ms White said.