Jamie Graham was appointed to the post Jan. 1, 2009, after serving just under 35 years with the RCMP and five years as chief of the Vancouver Police Department.
Graham announced his retirement in a recent letter to Victoria's police board, whose chairman Mayor Dean Fortin thanked him for his service.
Fortin says he's confident the board has enough time to find a replacement to lead police in the provincial capital.
Graham's contract didn't pass without controversy, and he was reprimanded in early 2012 for leaving his gun under the seat of his car in a secure underground parkade.
The police board also said Graham engaged in "discreditable conduct" when he revealed to a security conference that an undercover police officer had driven a bus full of protesters to a rally at the start of the Olympic torch relay in 2009.