The Richmond MP issued a statement on Thursday saying he would stay on as minister for housing, planning and child protection until the election, scheduled for November 26.

Mr Wynne was first elected in 1999 and has served as a minister to premiers Daniel Andrews, John Brumby and Steve Bracks.

Prior to this, he served as a ministerial advisor at a state and federal level and as as a councillor for the City of Melbourne, and had a stint as Lord Mayor between 1990 and 1991.

"As the son of a waterside worker, it has been an honour to serve the Australian Labor Party at a local, state and national level," Mr Wynne said in a statement.

"I'm proud to be part of this socially progressive, reforming government - but I am focusing on the next 12 months."

Mr Andrews thanked Mr Wynne for his work, particularly in the area of social housing.

"On a personal note, I owe Richard a debt of gratitude for his friendship and his frank and fearless advice over many years. I wish him, Svetlana and their sons all the best for the future," he said.

Mr Wynne is the fourth MP to announce he is quitting politics at the next election.

Altona MP Jill Hennessy, Ringwood MP Dustin Halse and Yan Yean MP Danielle Green on Wednesday announced they are not seeking re-election.

Ms Hennessy was once touted as a potential successor to the premier.

Australian Associated Press