"This morning Speaker Ryan shared with his colleagues that this will be his last year as a member of the House. He will serve out his full term, run through the tape, and then retire in January," the speaker's aide said.
Buck explained that Ryan is proud of the 20 years he has been a Congressional representative but now he wants to spend his time as a husband and father.
US President Trump said in a statement on Wednesday that US House Speaker Paul Ryan will leave a legacy of achievement when he steps down from his post.
Paul Ryan has been the 54th Speaker of the United States House of Representatives since 2015 after he was elected to replace John Boehner.
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He was the Republican Party nominee for Vice President of the US, running alongside former Massachusetts governor Mitt Romney in the 2012 presidential election.