Opposition home affairs spokesman Jonathon Duniam will not seek re-election for his Tasmanian Senate seat.
The 43-year-old said he wanted to step back from politics after 10 years in federal parliament to spend more time with his family, including his three children.
"This was an extremely difficult decision to make - albeit that it is one I have been considering for quite some time," he said in a statement.
"I have spent the past 25 years in politics, the last 10 of those as a senator for Tasmania - and I have given everything to these responsibilities, often at the expense of family.
"Twenty-five years is a long time in any vocation and, when you take your role seriously, it always comes first.Â
"It is time I reversed my priorities and I can't do that if I am to stay in politics."
Senator Duniam first entered federal politics at the 2016 election, when he became the only new Tasmanian member of the upper house.
He came to Canberra after previously serving as an adviser to former Tasmanian Liberal senator Eric Abetz, and later as a deputy chief of staff to Tasmanian premier Will Hodgman.
He served as an assistant minister for forestry and fisheries in Scott Morrison's government and later held the opposition spokesman role for the portfolio following the Liberals' 2022 election defeat.
Senator Duniam became the opposition home affairs spokesman after Angus Taylor became opposition leader in February.
He said his long lead time for his retirement would allow a successor to build up a profile before the next election, which must be held before May 2028.
"I discussed my decision with Angus some time ago, and he has asked me to continue for a short period of time to complete work on our immigration policies," he said.
"Now is the right time for my party to choose new Senate team members who will carry forward the fight for Tasmania and for the values in which the Liberal Party believes."
The Liberals were losing one of their top performers, Home Affairs Minister Tony Burke said.
"The Liberal Party lose one of their best and brightest when he leaves the parliament," he told Sky News on Sunday.
Fellow Tasmanian Liberal Wendy Askew announced her retirement earlier in June, with political operative Brad Stansfield saying he would stand for pre-selection.
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