The federal member for the Victorian seat of Casey and current Speaker of the House has announced he will not contest the next election.

He was first elected almost 20 years ago, and says now is the time for renewal.

"After a great deal of thought and consideration, I have decided that this term as a Member of the House of Representatives will be my last," Mr Smith said in a statement.

"I was first elected 20 years ago this coming November and have had the honour of being re-elected on six occasions, making me the longest serving member for Casey.

"I love our Parliament and serving the Australian people. I am honoured that the Liberal Party and the electors of Casey voted to give me this privilege for two decades."

The Speaker had of late been cracking down on unruliness and cynical politicking in the chamber, in particular applying much-needed scrutiny to the tiresome practice of rehearsed or planted Dorothy Dixer questions during question time.

He has turfed out ministers for unparliamentary behaviour, and even Prime Minister Scott Morrison has been in his sights.

In May, the Speaker warned: "The Prime Minister needs to address himself to the specifics of the question, not to any other element."

Mr Morrison has paid tribute to Mr Smith as an outstanding Speaker, as well as a dear friend and colleague for over 20 years.

"His presence in the Parliament and parliamentary Liberal Party will be greatly missed," the Prime Minister said.

"It has been in his role as Speaker that Tony has certainly made his mark. Tony has been an outstanding Speaker, in the true Westminster tradition.

"Tony Smith's intellect, temperament, dry wit, staying above the fray and respect for the Parliament as an institution has earned him respect, far and wide."

Mr Smith said he would serve out his term and then step down at the next election.

"The time is now right for me to pursue other endeavours following the conclusion of this 46th Parliament," he said

The presiding officer of the other chamber, Senate President and Victorian senator Scott Ryan, has also previously flagged hist retirement at the next election.

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