‘It takes a toll’: Why Andrews chose to walk away

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Victorian Premier Daniel Andrews has announced he is quitting politics.

Andrews held a snap press conference where he announced he will step down from the role of premier and as member for Mulgrave, at 5pm tomorrow.

"I'm also proud to think of all that we have achieved over these nine years," he said.

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Daniel Andrews.

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"It's not an easy decision because, as much as we've achieved together, there is so much more to do.

"But, when it's time, it's time."

Andrews quits politics after 'toll' of being a 'workaholic'

Andrews said thoughts of what life after politics looked like started creeping in during conversations with his family in recent weeks, and that's how he knew it was time to go.

"It's not an easy job being premier of our state," he said.

"That's not a complaint, that's just a fact.

"It requires 100 per cent from you and your family. That, of course, is time limited and now is the time to step away."

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Daniel Andrews's wife Cath and sons Noah and Joseph watch his retirement press conference.

Andrews said the only way he knew how to do the job was by allowing it to consume and define him. He dubbed himself a "true workaholic".

"Every waking moment is about the work and that takes a toll," he said.

"The moment you are not comfortable with that decision for you and the people you love, you have to step away.

"Because you never want to get to a place where you resent this job, this amazing privilege and important opportunity."

He said the old saying "go when they're asking you to stay" was apt for his decision to step away from public life.

'Thank you': Andrews' message for Victorians

Andrews' message to the Victorian people was simple: "thank you".

"Doing this job has been the honour and privilege of my life and I have worked hard every day, never wasting a moment, to deliver our positive plans, to put people first, to do what matters," he said.

"I will always be grateful, always profoundly grateful for the honour and privilege of leading this very special place."

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Daniel Andrews will resign as Victorian premier at 5pm tomorrow.

What happens next for Dan Andrews

Andrews acknowledged there will be judgement of his leadership, but he leaves knowing he has implemented important policy.

"I have a very, very thick skin and you need that to do this job," he said.

"People can say whatever they want about me, good and bad, it's always been about the work."

After he spoke he was met by a round of applause by reporters.

Andrews isn't out of the job yet, he'll hand in his formal resignation at state parliament on Tuesday afternoon and his tenure will come to an end at 5pm on Wednesday.

Daniel Andrews said being premier of Victoria was the "honour and privilege of his life".

As to what Andrews plans to do next, he said he was going to spend time with his wife and the kids, play golf, and read books.

"I'm looking forward to a very different pace and doing different things," he said.

Andrews was first elected to parliament in 2002.

He has been premier of Victoria since December 2014 and served as the 48th leader of the state.

Who will the next premier be?

A caucus meeting will be held tomorrow at 12pm where party members will choose the next premier.

"That will be determined by the colleagues," Andrews said.

Minister for Transport and Infrastructure Jacinta Allan

The current frontrunner is deputy premier Jacinta Allan, who is also in charge of leading the state's transport projects.

Andrews tipped towards favouring Allan for the top job.

"I will just say I informed the Cabinet at our meeting at 12pm of the decision and many of them are here and it was with some considerable pride that I looked across that beautiful roundtable and saw that two-thirds of the members of that room are women," he said.

Other names are being floated for the role including Industry and Innovation Minister Ben Carroll.

But ultimately a formal vote will decide who takes on the top job.

If there is a contest for the top job then Andrews will cast a vote.