After discussion, the BBC and Peter Snow have agreed that now is the right time for Peter to step down from his role in the BBC's General Election coverage.
The BBC's Director of News, Helen Boaden, said: "Peter has brought tremendous presence, energy and engagement to the last nine general elections and a formidable understanding of the story.
"We are delighted that he will continue to charm, educate and entertain audiences on BBC television and radio and send him our warmest best wishes for his future plans."
Peter Snow said: "The BBC - quite understandably - wants to freshen up its election team in this parliament. I shall be over 70 at the next general election and that, frankly, is a bit old to be dancing around in front of huge graphic displays.
"It really is time for a change; I have covered nine general elections and countless others with the BBC and ITN, and it's time for someone else to handle the swingometer."
Peter added: "It allows me time to pursue my interests in other equally stimulating fields of broadcasting. I have always had a passion for military history and science as well as news and current affairs.
"I am now working with my son on a series about 20th century battles for BBC TWO, and another major BBC programme on the ownership of British land.
"It's a fine time to go: the BBC's coverage of this year's general election results was the most spectacular yet, and I was proud to be part of it.
"I've had a wonderful innings with the BBC's election team, and I'm hugely grateful for the opportunity they've given me over the past 25 years to try and explain election results with clarity and energy.
"I shall miss working with David Dimbleby: we've been a great partnership over the years. I wish the next election team and my successor all the luck and success in the programmes they do together."