Lord Mawhinney has announced he will step down as chairman of the Football League on 15 March next year, after more than seven years in the post.
Mawhinney said: "It has been a privilege to serve the Football League.
"I've greatly enjoyed the challenge of helping shape a better League and am grateful for the support received."
Ian Ritchie, the board's other independent director, will consult with League clubs to pick a successor for the start of the 2010/11 season.
The former Conservative Party chairman, who was awarded a peerage in 2005 after stepping down from the House of Commons, will by then have held the post for more than seven years, having taken the reins in January 2003.
As well as the League's rebranding in 2004 - which saw Divisions One, Two and Three replaced by the Championship, League One and League Two - Lord Mawhinney oversaw the introduction of a fit and proper persons test for prospective club directors, which was subsequently adopted by the Premier League.
Mawhinney also oversaw the introduction of rules forcing League clubs to publish their spending on agents' fees while banning "dual representation" (where agents were able to represent both a player and a club during a transfer) - and the introduction of points penalties and other sanctions for clubs entering administration and other insolvency procedures.
However, he was a controversial figure for fans of some clubs - particularly those who suffered points deductions after going into administration, a rule which was brought in for the 2004/05 season.
In 2008, he clashed with Football Association director of football Trevor Brooking in a row over youth development.