Brendan Howlin is to resign as Labour leader.
He also announced that Labour will not formally enter government, with that position backed by the Parliamentary Party.
However, he suggested the party is open to supporting a programme for government on certain issues from the opposition benches.
Deputy Howlin also said he is not interested in serving as Ceann Comhairle in the new Dáil.
BREAKING: Brendan Howlin to resign as Labour leader pic.twitter.com/GizL14fNfw
— Seán Defoe (@SeanDefoe) February 12, 2020
In a statement, the Wexford TD said: “It has been an honour to lead the Labour Party but now is the right time to pass on the baton to a new generation.
"It has been undoubtedly a difficult election for us but I believe we have succeeded in sowing the seeds for future growth."
Labour will return to the Dáil with six TDs - including Aodhán Ó Ríordáin in Dublin Bay North and Duncan Smith in Dublin Fingal - having lost one seat in the general election.
A leadership election will now take place to choose Deputy Howlin's successor.