In a letter to the VFF membership, Mr Hosking pointed to recent achievements and said he was certain that the time was right for the next generation of leaders to take on this opportunity and continue serving Victorian farmers.
Nominations are now open for the position of president and vice-president and nine regional councillors.
Potential candidates have until Tuesday, March 31 to nominate.
Mr Hosking, a fifth generation mixed farmer from Quambatook, said when he was elected the organisation was in a fragile position.
“Assets had been sold to cover expenses, our standing with government and industry was being tested, and membership was falling as many farmers felt the VFF was no longer representing them effectively,” Mr Hosking said.
“Today, I’m proud to say that situation has changed.
“The organisation is stronger, and that turnaround has only been possible because of the support and commitment of our members.
“I feel incredibly humbled by the support and genuine friendships I have received from farmers across this great state.
“I have held leadership roles within the VFF for more than 10 years, during which we have faced droughts, floods, good seasons, tough seasons, and more recently the devastating fires across Victoria, where recovery is still only just beginning.”
Mr Hosking said he would continue to serve out the remainder of his term as president and keep fighting for Victorian farmers standing up against changes to transmission laws that fast-track compulsory land acquisition, or ensuring farmers maintain access to the fuel they need as supply chains come under pressure.