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Mark Drakeford has announced he will stand down as Welsh Labour leader immediately and a leadership contest for a new first minister will be held.
A new party leader will be elected before Easter, Mr Drakeford said in a statement.
He said he will remain as first minister until his successor is picked by his party.
Mr Drakeford, 69, the Cardiff West Member of the Senedd (MS), has been first minister for five years.
He had planned to stand down in 2024 but the timing of his announcement was a surprise.
Speaking at a hastily arranged press conference in the Welsh Parliament, Mr Drakeford said: "When I stood for the leadership, I said that, if elected, I would serve for five years. Exactly five years have passed since I was confirmed as first minister in 2018."
He said it had been a "huge privilege to lead both the Welsh Labour Party and the Welsh government".
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