( CNN ) - British Prime Minister Tony Blair announced his resignation Thursday as Labour Party leader and prime minister after a decade in power.
"I've come back here to Sedgefield, to my constituency, where my political journey began and where it's fitting that it ends," Blair said.
"I've been prime minister of this country for just over 10 years ... I think that's long enough for me, but more importantly, for the country."
Blair spoke at his parliamentary constituency of Sedgefield in northeast England and said he would tender his resignation as prime minister to Queen Elizabeth on June 27.
The outgoing PM thanked the nation for it's support during his time in office, apologized for his shortcomings and said he always did what he thought was right.
Blair arrived to a cheering crowd of local activists and applause from supporters in his parliamentary constituency in northeat England. Labour's longest-serving PM met his Cabinet Thursday morning ahead of the midday announcement.
Blair's departure is expected to trigger a leadership election in the ruling Labour Party that will put a new chief in 10 Downing Street by the end of June.
Following the morning meeting Blair slipped out the back door and headed to an airport near London to catch a flight to his constituency. Blair has represented Sedgefield in the House of Commons since 1983.