Canadian Prime Minister Justin Trudeau announced his resignation on Monday, saying he will leave office as soon as the ruling Liberal party chooses a new leader.

"I intend to resign as party leader, as prime minister," Trudeau, who has been in power since 2015, told reporters in Ottawa following a protracted political crisis that saw top Liberal allies urge him to quit.

Trudeau, under heavy pressure from Liberal legislators to quit amid polls showing the party will be crushed at the next election, said at a news conference that parliament would be suspended until March.

That means Trudeau will still be prime minister on Jan. 20 when US President-elect Donald Trump takes office. Trump has threatened to impose tariffs that would cripple Canada's economy.

Trudeau, 53, took office in November 2015 and won reelection twice, becoming one of Canada's longest-serving prime ministers.

But his popularity started dipping two years ago amid public anger over high prices and a housing shortage, and his fortunes never recovered.

Polls show the Liberals will badly lose to the official opposition Conservatives in an election that must be held by late October, regardless of who the leader is.

Parliament was due to resume on January 27 and opposition parties had vowed to bring down the government as soon as they could, most likely at the end of March.

But if Parliament does not return until March 24, the earliest they could present a non-confidence motion would be some time in May.