Alex Salmond said he would not have resigned as First Minister had Scotland voted for independence.
He added that the "last seven years as the First Minister has been the privilege of my life" but said in his opinion "the country would benefit having new leadership".
Alex Salmond said he was congratulated by David Cameron on a "hard fought campaign" but the Prime Minister refused to back Gordon Brown's timetable for a vote on a Scotland Bill by 27 March next year.
Alex Salmond announced he will stand down as Scotland's First Minister and SNP leader after voters rejected independence in the referendum.Read the full story ›
Alex Salmond ended his resignation statement in Edinburgh by saying: "As leader my team is nearly over...but the dream will never die".
Alex Salmond said "it is a matter for the membership of the SNP" who will be the next leader of the party and therefore likely to be the next First Minister.
Alex Salmond is set to resign from the Scottish National Party and as First Minister, he has announced.
Many people were watching the Scottish independence result today in Cumbria just as keenly because of the county's proximity to the Scottish border.
Carlisle's Conservative MP John Stevenson has welcomed the 'no' vote and called for the county to get more of a voice, and its share of devolved power.
Parents at a nursery in Hawick say the Scottish Referendum vote has changed their children's futures.
Some parents felt proud of being part of Britain and want their children to grow up as British citizens.
Others were concerned about what powers Scotland would have in the future over things that will affect their children's lives.
Hot topics at the Mansfield Nursery gates were healthcare, house prices and education, in particular University tuition fees.
Here's what some parents told ITV Border.
19-year-old David Patterson has been campaigning with Yes Dumfries for two years now.
Despite expecting a rejection from Dumfries and Galloway, he told ITV Border how upset he was at the overall result.
Cumbria's Chamber of Commerce have released a statement detailing their reaction to today's news that it is a No vote from Scots against independence.
The chamber have voiced their relief at the outcome, and hopes for the future of business with its northern neighbours across the border.
"The voters of Scotland have spoken. Their historic decision to remain part of the UK will be a relief to many businesspeople and a disappointment to others.
"Uncertainty is always disruptive to business so this can't simply be the first in a series of referenda until one side or the other gets the result that it wants.
"That said, businesspeople all across the UK have long known that the referendum would be the start, rather than the end, of a process of change. Businesses will now expect Westminster and Holyrood to reach a devolution settlement that is clear, fair to both sides and swiftly executed.
"Any devolution deal for Scotland should trigger a new debate on local autonomy in England, giving local businesspeople more influence over how their taxes are spent and how business growth is supported. Local businesses deserve a say in how a new, less centralised UK is governed in the future.
"What we need to do now is to focus more than ever on how economic growth can be supported and further stimulated here in Cumbria."