Last month, Wu signaled he would step down from his post after an agreement was reached between Democrats and Republicans to raise the debt ceiling. The White House and top congressional lawmakers struck a deal to lift the deficit limit earlier this week.
According to National Journal, Wu will resign at 11:59 p.m. (presumably ET) on Wednesday night.
“Serving as a U.S. Congressman has been the greatest honor of my life," said the congressman in a statement, according to the Oregonian. "There is no other job where you get up each day and ask, ‘How can I try to make the world a better place today?’"