Labor Party elder and reform campaigner John Faulkner has announced his will not seek another term in the Senate when the party's New South Wales branch calls for nominations on Friday.

The former Labor leader in the Senate has decided to bow out when his term ends in 2017, saying that to seek a further six-year term would be "an indulgence".

Senator John Faulkner is bowing out of politics. Credit:Andrew Meares

But the decision to bring on the preselections ensures that they will be conducted under rules that Senator Faulkner has attacked as enfranchising only factional leaders.

Senator Faulkner will move at the party's July conference, which will decide the party's 2017 Senate ticket, for future NSW Senate and Legislative Council candidates to be determined by a ballot of the full party membership.