He, however, denied reports that he has resigned as current party President.
National Conference President and former Jammu and Kashmir Chief Minister Farooq Abdullah will not run for party president elections scheduled to be held on December 5. He, however, denied reports that he has resigned as current party president.
Mr Abdullah said he will continue to guide the party and the new leadership, but he wants to see a change in the party.
"I want some young person to head the party. I am now 86 years old. Let the young leadership take over the responsibility," he said.
Farooq Abdullah has been President of National Conference since August 1981. In June 2002, he was replaced by son Omar Abdullah. However, in 2006, senior Abdullah took over the top party post again.
Mr Abdullah said he will continue to head the Gupkar alliance, an amalgam of regional parties fighting for the restoration of Jammu and Akshmir's special status and statehood.