French President Jacques Chirac announced Sunday that he will not seek a third term in office.
"I will not seek your backing for a new mandate," the 74-year-old said in a nationally televised address.
Until now, in an attempt to avoid becoming a lame duck president, Chirac had not publicly ruled out the possibility of another run. However, his deteriorating health left little doubt that he would eventually bow out.
Chirac has spent 45 years in politics -- serving as France's president since 1995.
The departure will mark the end an era for the country and pave the way for a new generation of younger politicians.
Chirac's expected heir among the conservatives is presidential front-runner Nicolas Sarkozy -- who is leading the polls ahead of the April-May election.
But Sarkozy's rise to power won't be easy as he faces stiff competition from Socialist Segolene Royal and centrist Francois Bayrou.
Whoever wins will still have some tough hurdles to overcome as Chirac leaves behind a sluggish economy, a heavily indebted state and communities dealing with ongoing social tensions.
He will be remembered for ending compulsory military service and for standing firm against the far right.
Chirac also became popular for opposing the U.S. invasion of Iraq in 2003.
His mandate ends on May 17.
