Austria's Sebastian Kurz resigned as chancellor amid a corruption probe after a spectacular rise in politics and four years as leader.
Kurz - who in 2017 had become the world's youngest democratically elected leader - said he wanted to "make space to prevent chaos."
The 35-year-old conservative also said "we need stability" while the nation of almost nine million fights the coronavirus pandemic.
Pressure on Kurz to quit, including from junior coalition partner the Greens, started after prosecutors on Wednesday raided several locations linked to his People's Party.
They announced Kurz and nine others were under investigation over claims that government money was used between 2016 and 2018 in a corrupt deal to ensure positive media coverage.
Saying allegations against him were "false," Kurz declared he was sure he could clarify the situation.