Farage, 51, had said he would step down if he did not win any seat kept his words. The leader said he is a man of his words after quitting. The contest for new leadership in the party will take place in September. [Labour leader Ed Miliband apologises to losing MPs]
The UKIP, which is anti-European Union, could manage just one seat in the just-concluded election in which the Conservative Party got an unexpected majority. [Britain gets youngest MP since 1667]
I have today written to UKIP's National Executive Committee and offered my resignation. I look forward to a well deserved holiday!— Nigel Farage (@Nigel_Farage) May 8, 2015
Farage said after the results came out that genuine radical political reform is the need of the hour.
Liberal Democrats leader and Deputy PM Nick Clegg resigns
Liberal Democrats leader and Deputy Prime Minister Nick Clegg also resigned after the results came out, saying liberalism across Europe is not doing good against the politics of fear. He said the nationalism and "us vs them" is on the rise and has posed a threat to Britain.
He also feared that in the absence of strong leadership, the existence of the UK is in jeopardy.
Clegg, however, said that it is too early to give an account of the "catastrophic" loss. The Liberal Democrats managed eight seats in the May 7 election. In the Liberal Democrats got 57 seats in the previous election.