Pope Benedict XVI will resign on February 28, the Vatican has announced.
"The pope announced that he will leave his ministry at 8:00pm (7pm UK time) on February 28," said Vatican spokesman Federico Lombardi.
The reason for the resignation, cited by the Pope himself, is "advanced age".
"After having repeatedly examined my conscience before God, I have come to the certainty that my strengths, due to an advanced age, are no longer suited to an adequate exercise of the Petrine ministry," wrote Pope Benedict XVI in a declaration to the public.
You can find the full text of Pope Benedict's declaration here.
The last post on the Pope's official Twitter account, dating February 10, says "We must trust in the mighty power of God’s mercy. We are all sinners, but His grace transforms us and makes us new."
We must trust in the mighty power of God’s mercy. We are all sinners, but His grace transforms us and makes us new.— Benedict XVI (@Pontifex) February 10, 2013
Pope Benedict XVI will be the first pope to resign in centuries, as the last Pope to do so was Pope Gregory XII in 1415.