He announced that the work of the country's parliament will be suspended until March 24. Meanwhile, Trudeau will remain the acting Prime Minister until a new leader is elected.
Justin Trudeau has led the party since 2013 and has been serving as Prime Minister of Canada since November 2015.
According to the Russian service of the BBC, Trudeau decided to announce his resignation before the national convention of the Liberal Party, which will begin on Wednesday. There, the issue of re-electing the party leadership will be addressed, and Trudeau is believed to have wanted to avoid a situation where his party members would remove him from the leadership position.