The announcement was made at a snap press conference outside parliament on Tuesday and comes after prolonged media speculation about his future.
Andrews was joined by his wife, Catherine, and their sons, Noah and Joseph, as he said he would resign as both premier and the member for Mulgrave effective 5pm Wednesday.
Anthony Albanese praised Andrews on Tuesday afternoon and said he “is a person of deep conviction, great compassion and fierce determination”.
“Dan has always been a builder and in education, health, infrastructure and housing he has built an extraordinary legacy that will endure for generations.”
Andrews said Labor MPs would meet at midday on Wednesday to decide who would succeed him as the party’s leader and premier.
The outgoing premier thanked his wife and said he was keen to spend more time with her and his children, play golf and read a “pile” of unread books.
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