The 51-year-old former South Africa first-class cricketer, took over as ICC chief executive in 2008 and already has a one-year extension, but he has made it clear he does not want another one.
"Lorgat has informed the ICC nominations committee, chaired by ICC President Sharad Pawar, that he will not seek to renew his term of office which expires on 30 June 2012," said a ICC press release.
Lorgat will step down after the 2012 annual conference of cricket's governing body scheduled in Kuala Lumpur in June after agreeing to only one year extension despite being offered another three year term.
Lorgat said he wants to leave the post after the successful hosting of this year's World Cup.
"My sense is to step aside after having delivered a successful ICC World Cup and the new global ICC strategy which is now in place," Lorgat was quoted as saying in the release.
The World Cup staged in India, Sri Lanka and Bangladesh was won by India in April.
Lorgat said the ICC had also dealt with the important issue of illegal spot-fixing in the sport during his tenure.
"We had to protect the integrity of the game and restoring the reputation and image of the ICC and having dealt decisively with the spot-fixing issues, delivered a highly successful World Cup and adopted a new global strategy, I feel the time is right to move on."
Pakistani players Salman Butt, Mohammad Asif and Mohammad Aamer were sent to prison for their roles in the illegal betting scam which marred the Lord's Test against England last year.
Lorgat said he believes he has has left a legacy for posterity.
"I am hopeful that the independent governance review currently in progress and due to be published after the next Board meeting would find acceptable outcomes and thereby leave a legacy for future generations," he said.
"Overall I feel personally satisfied with having successfully led the ICC through some difficult issues."
The ICC nominations committee has decided to engage an executive recruitment agency to advertise and identify a successor to Lorgat. The recruitment process will be managed by the ICC Vice-President, Alan Isaac.
ICC president Sharad Pawar lauded Lorgat's contribution.
"Lorgat has steered the ICC through some tricky situations, such as the location of the ICC Headquarters in Dubai, the response to the Lahore attack (on the Sri Lankan team in 2009), several doping issues, the recent spot-fixing hearings and the highly successful ICC Cricket World Cup 2011.
"I am satisfied that his contribution to the ICC and to cricket leaves us in a solid position. The game owes Lorgat a debt of gratitude for his good leadership," said Pawar, who will also be replaced by Isaac in June 2012. (AFP)
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