The announcement was made in a press release Friday, a day after Nicholson confirmed reports that he'd be resigning.
A news conference was set for 12:45 p.m. ET at the Toronto Maple Leafs' practice facility.
Nicholson, 60, a native of Penticton, B.C., has been at the helm of Hockey Canada since 1998, and has been involved with the organization since 1990.
During his tenure as president and CEO, Canada has won seven Olympic gold medals, 12 world junior titles, five men's world championships and 10 women's world championships.
“I have mixed emotions in making this announcement, as it marks an end to an extraordinary part of my life, but I think the time is right for me personally to step down,” Nicholson said in the press release.
Hockey Canada's board of directors will set a process and timeline for the naming of a new president and CEO over the coming months, according to the release