"Serving as the leader of the party that I love so much has been the opportunity and the challenge of a lifetime", Scheer said Thursday in the House of Commons, "and this was not a decision I came to lightly".
He only became leader in May 2017 in a razor thin victory against 12 rivals.
Mr Scheer has faced intense pressure from within his party to resign since losing October's federal election to Justin Trudeau's Liberals.
Manitoba Sen. Don Plett, the Conservative leader in the upper house, said he felt "bitter" that Scheer was stepping down.
In the months leading up to the election, his Conservatives had polled ahead of Trudeau, but the party was unable to capitalize on a prime minister beset by scandals, leaving many frustrated with Scheer's performance.
Scheer appointed her House leader, a senior role that involves negotiating with other parties in the Commons on votes and timing.
"I don't think there's anything inappropriate about the party helping out with certain expenses that are incurred as a result of being the leader of a national party".
But the way #ScheerMustGo co-founder Koch describes it, the information was floating around Conservative ranks for some time and was allegedly given to former Conservative MP and minister John Baird, who is now conducting an internal review of the losing campaign.
Caron said the Conservatives will likely hold their April convention as planned, with a leadership vote expected to come at a later date, possibly in the summer. In many ways, I grew up in this chamber, but some might say I have not yet grown up.
I believe in this party, I believe in our movement and I believe that we will be a government after the election.
Throughout his brief term as leader, Scheer was under the spotlight for his social views, constantly dodging questions on his past comments on same-sex marriage and abortion rights.
As for who could step forward as leadership candidates, McLeod would only confirm she would not be one of them.
Mr. Scheer's resignation comes amid revelations, Global News first reported that Conservative Party has helped cover the cost of private school for children Conservative leader.
Scheer will stay on as MP for Regina-Qu'Appelle.
"Scheer has made a decision to put his family first". I want to thank my colleagues in the Conservative party.
The party has asked former Conservative cabinet minister John Baird to conduct a review of the election.
"I think public debate and public scrutiny and public discourse is how we get the best ideas and the best leaders".
The pace over six weeks, Scheer said, took a toll on his family and his wife Jill, whom he called "heroic".
"On behalf of the directors of the Fund - all being volunteers - I say to you, that as long as the Fund is in control of the financial affairs of the Party, we will see that the fund fulfills its obligation to operate in a prudent and fiscally responsible manner".
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