He will remain as Prime Minister until a successor is in place, expected to be by the time of the Conservative Party conference in October.
Here are some of the potential frontrunners to be the new Tory leader:
Steve Baker
Prominent Brexiteer and former minister Steve Baker, a senior Tory backbencher, confirmed on Thursday that he is seriously considering putting himself forward for the top job.
Suella Braverman
The Attorney General launched an unlikely leadership bid as support for Mr Johnson crumbled around him on Wednesday night.
Previously loyal to the departing premier, she told Peston on ITV that he had handled matters "appallingly" in recent days and "the balance has tipped now in favour of saying that the Prime Minister - it pains me to say it - but it's time to go".
Sir Robert Buckland
The new Secretary of State for Wales has declined to rule out running as Tory leader.
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Support grows to have Schu back at Home Park
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McPhee knows Parkway need to make their dominance tell
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Badenoch call for rape gang inquiry
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Stormzy given driving ban
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House prices 'strong'
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Making the most of fitness studio with a difference
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