Godin, who has represented the New Brunswick riding of Acadie-Bathurst since 1997, says it is time to go after 17 years.
The former labour organizer joins a growing list of New Democrats who are calling it quits, including deputy party leader Libby Davies.
Other departing New Democrats include Glenn Thibeault, who quit Parliament to run as a Liberal in a provincial byelection in Ontario, and Jean Crowder of British Columbia, who has been an MP since 2004.
Joe Comartin, an MP since 2000 and deputy Speaker of the Commons since 2012, is another senior New Democrat who won't run again.
Alex Atamanenko, Marie-Claude Morin and Tarik Brahmi have also said they won't be candidates this year.
Godin says he wants to give the party plenty of time to choose a replacement candidate for the coming election, expected in October.
"I am sure that the people of Acadie-Bathurst will elect another NDP MP in the next election, as we have all suffered the consequences of the decisions made by the Liberal and Conservative governments," he said in a statement.
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