Quebec Liberal Party Leader Philippe Couillard will step down from his post at the helm of the party and give up his seat in the National Assembly, according to information obtained by Radio-Canada.

Couillard will meet with everyone who ran under the Liberal banner in Monday's election at 1 p.m. Thursday in Quebec City. He will address the media afterward.

His party suffered a major defeat on Monday, falling to just 32 seats — down from 68 when the government was dissolved.

The party received just 25 per cent of the popular vote, its lowest showing since Confederation.

François Legault's Coalition Avenir Québec won decisively, taking 74 seats in the 125-seat legislature.

In his speech Monday night, Couillard said he would take a few days to reflect on his political future.

This wouldn't be the first time Couillard left politics. A neurosurgeon by trade, he was first elected for the Liberals in 2003, eventually serving as health minister before stepping down in 2008.

He returned to politics in 2012 to seek the Liberal leadership after Jean Charest resigned. Couillard won on the first ballot, and led the Liberals into the 2014 election, where they defeated Pauline Marois's Parti Québécois.

With files from Radio-Canada