Boris Johnson will make a statement to the country as the embattled Prime Minister prepares to finally resign.
Tory MPs have abandoned their scandal-hit leader with more 50 Conservatives quitting the Government since Tuesday night.
Staff in No 10 have been told that Mr Johnson is quitting and his letter has been prepared, two sources told the Mirror.
He is expected to make a statement around lunchtime.
A No 10 spokesperson said: “The Prime Minister will make a statement to the country today.”
Defiant Mr Johnson tried to dig in last night as the Government crumbled around him but his refusal to quit just angered his MPs further.
He lashed out by sacking Levelling Up Secretary Michael Gove in a last-ditch show of strength.
But a string of minister quit this morning, including Northern Ireland Secretary Brandon Lewis and Education Secretary Michelle Donelan, who was only appointed to the post 36 hours ago.
Mr Johnson had been vowing to fight on and try to see off another vote of no confidence - but he appeared to finally understand that the game was up this morning.
A No 10 source said Mr Johnson spoke to Tory backbench chief Sir Graham Brady to inform him of his decision this morning.
"The Prime Minister has spoken to Graham Brady and agreed to stand down in time for a new leader to be in place by the conference in October," a No 10 source said.
Former Science Minister George Freeman, who resigned this morning, suggested Mr Johnson quits immediately and is replaced by a caretaker PM.
He tweeted: "Boris Johnson needs to hand in the seals of office, apologise to Her Majesty & advise her to call for a Caretaker Prime Minister to take over today so that Ministers can get back to work & we can choose a new Conservative Leader to try & repair the damage & rebuild trust."
Labour leader Keir Starmer said Mr Johnson should have quit long ago as he was "always unfit for office".
Mr Starmer said: "He has been responsible for lies, scandal and fraud on an industrial scale. And all those who have been complicit should be utterly ashamed."
He added: "We don’t need to change the Tory at the top – we need a proper change of government."
