Libya’s National Transitional Council (NTC) is to hand over power to the country's recently elected General National Congress (GNC).
The transfer of power is expected to take place on Wednesday. The GNC will then select a prime minister and a government.
The 200-member assembly, the first democratically elected body in Libya in over four decades, was elected on July 7.
It will hold legislative powers until a parliament is elected. No date has been set for the country’s parliamentary elections.
The NTC has ruled in Libya since the ouster of long-time dictator Muammar Gaddafi last year.
Libya became the scene of anti-Gaddafi protests in mid-February 2011. The revolution witnessed intense confrontation between government troops and opposition fighters.
Gaddafi was killed by Libyan revolutionaries in his hometown of Sirte, located 400 kilometers (250 miles) east of the capital Tripoli, on October 20, eight months into the revolution that put an end to his 42-year-long dictatorship.