Chris Hartcher, the former Liberal Party minister alleged to have masterminded a scheme to funnel illegal political donations to candidates before the last NSW election, has announced his retirement from Parliament.

In a statement on Wednesday morning Mr Hartcher said he would not recontest his seat of Terrigal at the March 2015 election.

Chris Hartcher leaves the ICAC after giving evidence in 2014. Credit:Daniel Munoz

"I have had the honour of representing the people of Terrigal since 2007," he said.

"Over the past 26 years I have seen enormous changes to the Central Coast, now the third biggest region in the state.