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Mike Baird announces he will quit politics

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NSW Premier Mike Baird has announced he's quitting politics.

Mr Baird announced on Thursday just after 9am that it was time to hand over the reins to a new premier for the state.

"Serving as premier of NSW has been a tremendous honour, but I have made clear from the beginning that I was in politics to make a difference, and then move on. After 10 years in public life, this moment for me has arrived," he said in a statement.

He said a new premier will be appointed next week.

"Next week there will be a Liberal party-room meeting and a spill of leadership positions. Following that meeting, I will resign from parliament, effective immediately."

"I am immensely proud of what Barry O'Farrell and I - together with Andrew Stoner, Troy Grant, John Barilaro and our teams - have achieved over the past six years," he said.

Mr Baird will hold a media conference in Sydney at 10am.

© AAP 2017

Image credit : (AAP Image/Paul Miller)