Rep. Pat Tiberi, a senior member of the House tax-writing committee, will leave office by the end of January.
The Ohio Republican announced his plan on Thursday, as his party aims to overhaul the American tax system. The GOP hopes to approve a tax plan by the end of the year, but the process could leak into next year.
Tiberi, 54, serves on the House Ways and Means Committee and its tax policy subcommittee. He has held the House seat since 2001.
In a statement, Tiberi said he will lead the Ohio Business Roundtable when he leaves office.
"We have helped thousands of constituents with problems they have had with the federal government and fought for solutions to improve the lives of Americans everywhere," Tiberi said. "I am proud of my team's work and everything that we have accomplished together."
Tiberi easily won his 12th District with more than 66 percent of the vote last year.
President Donald Trump carried the state of Ohio.