Pang Chung, honorary secretary general of the Sports Federation and Olympic Committee of Hong Kong, is set to announce that he is stepping down from his role at the organisation's annual meeting on March 2.
The 77-year-old, widely considered as one of the most influential sporting figures in Hong Kong, was elected to the position in 1998, the same year Timothy Fok Tsun-ting became President.
Despite having one year remaining on his current term, the former Hong Kong high jump and triple jump record holder told the South China Morning Post he does not "want people to have the perception the Olympic Committee is fully occupied by old men".
"It's an appropriate time to quit," added Pang, who claimed he had planned his decision for some time.
"Twenty fifteen is quite a quiet year in terms of sport, as there will be no major games for Hong Kong and therefore my decision will not create any enormous problems."
Ronnie Wong Man-chiu, President of the Hong Kong Amateur Swimming Association, will take over Pang's duties until the next election of office bearers in 2016.
He will be assisted by Professor Leung Mee-lee and Kenneth Fok Kai-kong, while Pang will stay on as an adviser to ensure a smooth transition.
Pang, who represented Hong Kong at the Asian Games during the 1960s, was responsible for organising logistics for the country's athletes at major events for which he came under criticism at times.
Barton Lui Pan-to, who finished fifth out of six in a qualifier for the men's 1,500 metres short-track speed race at Sochi 2014, complained that he had been let down by the Hong Kong Olympic Committee because they failed to provide him with any medical back-up.
The row involving Hong Kong's only representative at the Winter Olympic Games overshadowed the re-election of Fok, who was the only candidate for Presidency and earned 57 out of the 58 votes, in March.
It led to Tsang Tak-sing, Secretary for Home Affairs, a portfolio which includes sport, questioning why the Committee had applied for Government funding for medical personnel when they put forward their plans for Sochi 2014.
The Sports Federation and Olympic Committee's office-bearer elections have also been accused of lacking transparency.
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March 2014: Fok re-elected President of Sports Federation & Olympic Committee of Hong Kong