Iain Wright, Labour MP for Hartlepool and chair of the business, energy and industrial strategy committee, has announced he will not stand for re-election in the snap election on 8 June.
In a statement released via Twitter, Wright said: "I do not intend to stand again to become Member of Parliament for Hartlepool.
"It has been an enormous privilege to serve my home town in Parliament. I have now been an MP for nearly a third of my life. I would like to do other things and now is a good opportunity to do so.
"I would like to thank my constituents for giving me the honour of allowing me to be their Member of Parliament since 2004."
I don't intend to stand for re-election to Parliament: pic.twitter.com/LMwLH9L8t6— Iain Wright (@Iain_Wright_) April 19, 2017
Wright, who first gained his seat in a by-election brought about by the resignation of Peter Mandelson, led last year's inquiry into working conditions at Sports Direct.
He also headed up the parliamentary investigation into the collapse of BHS.
Wright is one of three Labour MPs who have already stated their intention to use the upcoming General Election to step down from Parliament.
Middlesbrough MP Tom Blenkinsop has revealed he will quit, citing "irreconcilable differences" with Labour leader Jeremy Corbyn, while Labour grandee Alan Johnson has also said he will retire.
"At this moment of enormous national significance there should be unity here in Westminster, but instead there is division. The country is coming together but Westminster is not," she said, pointing the finger at opposition parties threatening to block Brexit.
"If we do not hold a general election now their political game playing will continue, and negotiations with the EU will reach their most difficult stage in the run up to the next scheduled election."