Shashank Manohar gestures during a press conference in Mumbai, India. File/ AP
Khwaja is the deputy chairman of the ICC and former president of the Singapore Cricket Association.
"The process for the chairperson election is expected to be approved by the ICC board within the next week,” the ICC said in a statement.
Khwaja, on behalf of the governing body, thanked Manohar for his commitment during two terms that each lasted two years.
"There is no doubt that cricket owes Shashank a debt of gratitude for all he has done for the sport. He has left cricket and the ICC in a better place than he found it,” Khwaja said in a statement.
ICC chief executive Manu Sawhney added: "I would like to thank Shashank for his leadership and everything he has done for the sport as ICC chairman. We wish him and his family all the very best for the future.”
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