"My sense is to step aside after having delivered a successful ICC Cricket World Cup and the new global ICC strategy which is now in place," Lorgat, an all-rounder who played 76 first class matches for Eastern Province and Transvaal, said in a statement.
Lorgat's eventful tenure included ICC relocating its headquarters to Dubai [ Images ] and dealing with issues such as the 2009 attack on visiting Sri Lankan cricketers in Lahore [ Images ], hosting of this year's 50-over World Cup in the Indian sub-continent and the recent spot-fixing scandal that led to three Pakistani cricketers to be jailed.
ICC president Sharad Pawar [ Images ] was happy the way Lorgat steered the governing body through those "tricky situations".
"I am satisfied that his contribution to the ICC and to cricket leaves us in a solid position," Pawar said.
"The game owes Mr Lorgat a debt of gratitude for his good leadership and while we are sad at his departure we understand fully the reasons and wish him well in the future."
ICC Vice-President Alan Isaac will oversee the recruitment of the next chief executive.