Having hoped to bow out after the 2023 World Cup in India, the skipper has opted to step away now to give his successor time to prepare for the tournament
Aaron Finch will retire from one-day international cricket following the final match of the New Zealand series.
The 35-year-old will also give up the captaincy of the 50-over side, which he has held since 2018.
Finch will remain the T20I skipper ahead of the World Cup starting next month but will consider his wider future following the Big Bash League.
Despite enduring a rotten run of form in the format, the Victorian had hoped to remain until the 2023 World Cup in India.
Finch has endured a troubled run with the bat in the 50-over game (William West/Getty Images)
In 13 innings in 2022 Finch has scored 169 runs at 13 with five ducks.
The 3rd ODI in Cairns - Australia already hold an unassailable 2-0 lead - will be his 146th outing in the format. He has scored 5,401 runs, sitting 14th in the all-time list for Australia, with a best of 153 not out against Pakistan in 2019.
"It has been a fantastic ride with some incredible memories," Finch said.
"I have been extremely fortunate to be a part of some brilliant one-day sides. Equally, I have been blessed by all those I have played with and the many people behind the scenes.
Alex Carey deputized for Finch against the West Indies last year. (Randy Brooks/Getty Images)
"It is time now to give a new leader the best possible opportunity to prepare for and win the next World Cup. I thank all of those who have helped and supported my journey to this point."
The new skipper's reign will begin with a three-match series against world champions England on November 17, 19 and 22. Candidates include Alex Carey, who led Australia in the West Indies ODIs last year when Finch was ruled out with a knee problem.
Steve Smith captained the side 51 times between 2015 and 2018 prior to the ball-tampering scandal. Other senior figures who will likely come under consideration include Glenn Maxwell, Mitch Marsh, Test captain Pat Cummins and Josh Hazelwood.
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