The 47-year-old who was educated at Lostock Hall High School and Runshaw College, Leyland, announced his decision just minutes ago.
It follows the resignation of his home affairs spokesman Lord Brian Paddick over the leader's views on gay marriage.
Throughout the general election campaign the Liberal Democrat leader was dogged by questions about his attitude to gay sex after he previously appeared to state the practice was a sin.
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Mr Farron also faced tough questions about his views on abortion after he previously claimed it was "wrong".
He has now resigned as leader, according to reports.