Trade Minister Andrew Robb has announced he will not be contesting the next federal election, expected later this year.
After 12 years in parliament, Mr Robb says the time is right to leave politics.
"At 64 and in excellent health I plan to move on to my next career, which will be in some capacity in the private sector," he said in a statement last night.
"I've never been in better shape, physically or mentally."
As Trade and Investment Minister since the 2013 election, Mr Robb is considered one of the government's best performers.
In the past three years he sealed free trade deals with China, Japan and Korea and the Trans-Pacific Partnership.
He is expected to remain in the portfolio until the election.
Mr Robb said he will leave politics in the comfort of knowing that both the Turnbull Government and the Coalition are in great shape.
“It’s an opportune time to hand over the baton to the talented next generation in our party,” he said.
Mr Robb, who faced a public battle with depression during his political career, is arguably the most successful trade minister in Australia’s history.
He recently returned from New Zealand after the historic signing of the Trans-Pacific Partnership (TPP) agreement – capping off a remarkable career in the Trade portfolio.
Mr Robb had previously served as Liberal Party federal director from 1990 to 1997 and had a stint as the executive director of the National Farmers’ Federation.
He was elected to the Victorian seat of Goldstein in 2004.
Mr Robb thanked his colleagues, constituents, family and staff for their friendship, understanding and support.
Mr Robb and Maureen, his wife of 42 years, have three children.