The contest for the Tasmanian Liberal Party's leadership will be a fight between Bass colleagues Peter Gutwein and Michael Ferguson.
Treasurer Peter Gutwein has confirmed he will stand for the Tasmanian Liberal Party leadership with Jeremy Rockliff as his deputy.
"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."
The pair were elected in 2002 with Mr Hodgman.
Before politics, Mr Gutwein worked as a financial adviser on the mainland and in Europe.
Mr Rockliff started his working life as a jackeroo before entering the family's farming business.
The announcement was soon followed by a statement from Infrastructure Minister Michael Ferguson who announced he would contest the ballot with Attorney-General Elise Archer as deputy.
"Whatever happens next, it's my intention to continue to work hard and serve Tasmanians as a member of our strong Liberal team," Mr Ferguson said.
"My position, as always, is to do what is best for our party, the government and most importantly the Tasmanian people.
"Elise and I intend to respect the party room process by not adding to public commentary at this time."
In other news:
Before politics, Mr Ferguson was a high school maths and science teacher and Ms Archer practised law as a barrister and solicitor for 17 years.
Braddon Labor MHA Shane Broad said Monday's meeting would be "a nasty place to be".
He said the fight was between Mr Ferguson and Ms Archer from the party's conservative side and the architects of $450 million in budget cuts, Mr Gutwein and Mr Rockliff.
"They're currently fighting amongst themselves and shoring up personal support at the expense of their colleagues," Dr Broad said.
"It's all very ugly."
Health Minister Sarah Courtney is believed to be holidaying in Europe and has had to cut short her trip to return to Tasmania to take part in the vote.