Brisbane Lions coach Leigh Matthews this morning shocked the AFL community by quitting the club - on the same day co-captain Jonathan Brown announced he was staying.

- Matthews quits after 10 years
- Lethal to help find new coach
- Jonathan Brown re-signs

Matthews said the time was right for him to move on after 10 years and 237 games in charge.

"It's just time for me to move on," Matthews told a media conference at the Gabba this morning.

"I want to leave a year early, not a year late."

Matthews informed Brisbane Lions chairman Tony Kelly of his decision to resign yesterday afternoon.

Brown said he came to terms on a new contract with the Lions on the weekend - before he became aware of Matthews's decision to quit.

"It was a shock. We weren't expecting it. It's all happened pretty quickly," Brown said.

"He's been a fantastic mentor and more importantly, a friend."

Matthews will remain with the club for the immediate future to help complete a full post-season review and list management process. This is expected to include overseeing the AFL draft and the appointment of a new coach.

While he confirmed he would continue to live in Queensland, Matthews said he was unsure where the next step in his career would take him.

"Leigh is at peace with his decision and leaves on his own terms," Kelly said.

"I wish to publicly thank Leigh for being honest, straight-forward and reliable. He lives and breathes football and I know that will never stop.

"He loved his team and the players."

The Brisbane Lions board will meet tonight to start the search for Matthews's successor. There was no speculation at the media conference today on potential candidates for the position.

Matthews, 56, had a year to run on his current contract but had come under increasing pressure recently after the Lions underachieved in 2008.

Brisbane finished a disappointing 10th on the ladder after limping home with just two wins from their last nine matches.

His senior players recently dismissed suggestions by former Lions coach Robert Walls that Matthews had become too old to move with the trends of the game, while there were persistent rumours a fall-out with star forward Jonathan Brown.

But despite Brisbane's form slide, Matthews' announcement this morning will come as a shock to most fans of the club.

Once voted the best Australian rules player of the 20th century, Matthews has been a larger-than-life figure in AFL in Brisbane, with his iconic stature helping to establish the game in the growing South-East Queensland market.

Matthews was coaxed out of a three-year retirement to join the Lions in 1999, a year after they battled to the 1998 wooden spoon. His impact was immediate, lifting the club to fourth in his first year and making the finals once again in 2000.

In 2001, the Lions toppled Essendon in the first of their premiership triumphs, before beating Collingwood in 2002 and 2003.

A fourth consecutive premiership eluded the Lions after a grand final loss to Port Adelaide in 2004.