The prominent Liberal Party official at the centre of the Helloworld travel saga has quit as the party's federal treasurer.

Businessman Andrew Burnes quietly stepped down from the party's national executive, telling friends earlier this month it was time to "retire" after four years in the honorary job.

Liberal Party federal treasurer Andrew Burnes. Credit:AAP

A longtime Liberal donor, Mr Burnes was appointed as treasurer in 2015 amid bitter internal divisions over the financial position of the federal branch.

His efforts have been praised internally and he is widely credited, along with federal director Andrew Hirst and president Nick Griener, for turning around the once cash-strapped division.