Nigel Evans told MPs he decided to step down from his position as Deputy Commons Speaker "after careful consideration".
Speaking in the House of Commons, Mr Evans said: "I hope you will bear with me while I make this statement, it's been a few years since I made a speech in this chamber and I'm sad to say this is the speech.
"As many of you will know following recent allegations, I was charged with alleged offences yesterday. I now have the opportunity to robustly defend my innocence and seek acquittal.
"I have therefore decided the best course of action is for me to return to the backbenches and this is a decision I have made myself after careful consideration."
The Crown Prosecution Service said there was "sufficient evidence" and that it is in the "public interest to charge Deputy Speaker Nigel Evans with a number of sexual offences.
The Director of Public Prosecutions, Keir Starmer QC, said:
Following an investigation by Lancashire police, the Crown Prosecution Service has received a file of evidence in the case of Mr Nigel Evans MP which concerns allegations of a sexual nature.
After careful consideration, we have concluded that there is sufficient evidence and that it is in the public interest to prosecute Mr Evans. Lancashire Constabulary has therefore been authorised to charge two counts of indecent assault, five counts of sexual assault and one count of rape relating to a total of seven alleged victims.