Art Eggleton has announced he will not run in the next election.

Eggleton, a former defence minister and one-time mayor of Toronto, rose in the House of Commons Thursday to announce he has decided he will not seek re-election in his Toronto riding of York-Centre.

"After much thought and reflection, I have decided to no seek re-election in the forthcoming general election. It has been an honour to represent the people of York Centre in the House of Commons these 10 and a half years," he told MPs.

Asked what spurred his decision, Eggleton told reporters, "I just think it's time for me to move on." He responded repeatedly he was not asked to step aside.

He refused to discuss what his future holds.

Eggleton, 60, has been in politics for more than 30 years. He was elected to Toronto City Council in 1970 and become mayor in 1980. He served until 1991, the longest term in Toronto's history, before moving to federal politics.

He served as Treasury Board president and trade minister before becoming defence minister in 1997. He was forced to resign from cabinet in 2002 after it was learned he approved a $36,000 deal with a former girlfriend while he served as minister.

Eggleton's decision paves the way for the Liberals to introduce hockey great Ken Dryden as a candidate in Eggleton's riding.

The National Post says Dryden is preparing to announce he will make a bid for Parliament in the next election, expected to be called next week.

Dryden, 56, played in the legendary 1972 Canada-Russia series and won six Stanley Cups tending goal during seven seasons with the Montreal Canadiens. He also won and shared five Vezina Trophies, and was inducted into the Hockey Hall of Fame in 1983.

He graduated from Cornell University and received a law degree from McGill University in 1973 -- while he was playing pro hockey. He is currently president of the Toronto Maple Leafs, and is the author of several books, including the acclaimed The Game.

The announcement of Dryden's candidacy is expected on Friday, reports the Post.

An election is widely expected for June 28.