He becomes the fourteenth member of the party to announce their departure, joining a lengthy list of Fine Gael TDs who have said they would not be running in the next election.
He stated at this evening's Fine Gael Dublin West Constituency Organisation meeting that he wants to allow prospective nominees enough time to be ready for the September constituency selection convention.
The former Taoiseach, 45, said that he would "explore new options and opportunities" now that the "time has come" and that he would not be running for office.
"I have never seen myself as a career politician and I am keen to see how I can make my contribution to society in other ways," he said in a statement.
"I will, of course, serve out my term in the Dáil and remain a full-time member until it is abolished.
"I am making this decision at a time when the Fine Gael party is in good shape."
Initially appointed Taoiseach in 2017 at the age of 38, Mr. Varadkar took up the position again in 2022.
During his political career, he was appointed to many ministerial posts, including those related to transport, health, social protection, and enterprise. He was first elected as a TD in 2007.
In the 2004 municipal elections, he received the most votes—nearly 5,000—and scored the highest total.
Mr. Varadkar made his resignation as Fine Gael leader and taoiseach known in March.
In April, he formally submitted his resignation to President Michael D. Higgins, and the next day, Simon Harris was elected Taoiseach.