Treasurer Peter Gutwein has confirmed he will stand for the Tasmanian Liberal Party leadership after Deputy Premier Jeremy Rockliff ruled out running.
Instead Mr Rockliff will seek to retain his Deputy Premier position on the ticket with Mr Gutwein.
Mr Gutwein on Thursday confirmed he was standing to replace outgoing Premier Will Hodgman.
"After much consideration I can confirm that I will be standing for the leadership of the parliamentary liberal party," he said.
"In the interests of stability and certainty, Jeremy Rockliff has agreed to stand as my deputy and we will be putting ourselves forward as a strong and experienced leadership team."
Mr Rockliff said Mr Gutwein was the right person to be the next premier of Tasmania.
"I have agreed to support his nomination and stand at his side as deputy," he said.
"As a leadership team we have the experience, energy and dedication to continue to deliver the government's long term plan for Tasmania, and take it to the next level."
It is believed Infrastructure Minister Michael Ferguson will also run as leader.
Sources say he may run on a joint ticket with southern-based Attorney-General Elise Archer.
The first Liberal to front a press conference since Mr Hodgman announced his resignation, Police Minister Mark Shelton, would not be drawn to speculate on who may take over the role.
"The replacement is a matter for the Parliamentary Liberal Party," Mr Shelton said.
"I can assure you here today, and the only thing I can guarantee, is I won't be putting up my hand.
"Whoever is selected will make a great leader and will build on the legacy of the Hodgman government."
When asked to nominate his preferred leader, Mr Shelton said he would go through the voting process.
It is unknown when next week the PLP meeting will take place.
"I haven't been informed of a date or time," Mr Shelton said.