Longtime Republican leader Sen. Mitch McConnell, R-Ky., announced Wednesday he will step away from leadership in November. 

McConnell, who turned 82 last week, was set to announce his decision Wednesday in the well of the Senate, a place where he looked in awe from its back benches in 1985 when he arrived and where he grew increasingly comfortable in the front-row seat afforded the party leaders.

"One of life’s most underappreciated talents is to know when it’s time to move on to life’s next chapter," he said in prepared remarks reported by The Associated Press. "So I stand before you today ... to say that this will be my last term as Republican leader of the Senate."

The Associated Press contributed to this report.