Rane had announced last week that he will quit as minister but will remain in the Congress party. He will hold a press conference at 3 pm.
Rane, who had joined the Congress after he quit the Shiv Sena in 2005, had been at loggerheads with the state Congress leadership for a while now and has repeatedly criticized its style of functioning.
Rane, who submitted his resignation to chief minister Prithviraj Chavan, may not only quit Congress, but even politics in near future.
According to reports, Chavan is yet to accept his resignation.