Sir Malcolm Rifkind has announced he is to step down at the General Election after cash for access revelations.
The Tory MP has also resigned from his role of chairman of the Intelligence and Security Committee after pressure over the lobbying scandal intensified.
In a statement Sir Malcolm, who became an MP in 1974, said it was unfair to friends and colleagues in Kensington for him to continue to remain the candidate for the General Election but added the allegations against him were "contemptible".
He said he had no contact with number 10 before making his decision to go.
He said: "This is entirely my personal decision. I have had no such requests from my constituency association but I believe that it is the right and proper action to take.
"As regards the allegations of Channel 4 and the Daily Telegraph I find them contemptible and will not comment further at this time.
"Although I will retire from Parliament I shall continue my public and political life and am much looking forward to doing so over the years to come."
The MP for Kensington had been due at the regular ISC meeting this morning but admitted that the committee could be "distracted or affected by controversy" and that it would be better for him to step down.
Moments before he announced his resignation, Sir Malcolm was involved in a testy exchange with a Sky News reporter during which he told him to "mind his own business" and accused him of being "childish".
Sir Malcolm tried to laugh off the episode in an exchange with a woman on the other side of the road who shouted back: "You won't be doing that again will you."
His position at the helm of the influential committee had become increasingly untenable after former chairman Kim Howells said it would be "very difficult" for him to stay.
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Gallery: Rifkind's 40-Year Politics Career
Sir Malcolm Rifkind's political career has spanned 40 years. He became and MP in 1974 and was prominent in both Margaret Thatcher and John Major's Governments.
October 1986: Malcolm Rifkind, at the Conservative Conference at Blackpool
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