The Nova Scotia MP will run in next election in the new riding of Sackville-Preston-Chezzetcook.
The announcement comes one day after Stoffer said he'd like to become the ombudsman for Veterans Affairs Canada.
Stoffer also spoke in past tense Tuesday when asked about his political career, fuelling speculation he may leave politics.
"My family, the kids and my wife have been unbelievably supportive," he said. "My office staff — I have always said it's the No. 1 office staff in the world when it comes to constituency representation for the people we represent."
Elected to the seat in 1997, Stoffer is Official Opposition critic for veterans affairs. Over the years, he's served as the critic for fisheries, shipbuilding, seniors, amateur sport, Canada Post, the Atlantic Canada Opportunities Agency and defence.