The problem is, that person will have unbelievably big boots to fill. Mr Key has been a wildly popular leader. He comes across as relatable - just another Kiwi bloke (albeit a slightly goofy one).
He doesn't often get thought of as strategic and politically savvy but the timing of his announcement was both of those things.
The next year will certainly be an interesting one. Who will be leading our country this time next year is anybody's guess.
While speculation runs rife about the future there will also be plenty of reflection on Mr Key's time as prime minister.
He's had my vote for the eight years since he was elected to lead the country and I don't regret my choice.
He's had the odd lapse in judgement - the ponytail incident and his controversial appearance on The Rock radio station spring to mind, but we all say or do things we regret from time to time.
I can't say I agree with every decision he has made but overall, he's acted honourably and sensibly as prime minister.
Leading any nation must be a tough job and you can see it's taken its toll physically on Mr Key. He looked downcast and tired during today's announcement. He's been vague about his reasons for stepping down now - maybe there is more to it than we know.
Whatever the reason, after eight years at the helm of the country you can't blame him for calling it time.