Alok Mukherjee, 70, announced his resignation effective from August 1, during a board meeting yesterday.
"With this meeting, I complete 10 years in this position," said Mukherjee.
Mukherjee said that police service was very different today than a decade ago in the way that it served the community and conducted business, Toronto Star reported.
The Toronto Police Services Board is a seven-member civilian body that oversees the Toronto Police Service.
Andy Pringle will be succeeding Mukherjee.
Pringle, the acting vice-chairman, said that Mukherjee has made "a huge contribution to policing in Toronto".