"Ten years is long enough. I will not defend my post," Rayani said.
However, he said he would seek a position on the African Cricket Board in order to continue supporting the growth of the sport in the continent.
During his tenure, Kenya gained promotion from minnows in the East Africa region to One-day International status, as well as qualifying for three successive World Cup tournaments.
The country also hosted a series of international competitions, including the 1994 International Cricket Council (ICC) Trophy and the Knock-Out tournament in 2000.
But his committee has had run-ins with the authorities, forcing the Government to dissolve the association in 2002 after a revolt by national team players.
It was only after an intervention by the ICC that the matter was settled.
However, differences between various groups and lack of transparency in the governance of the sport in the country have led to a stalemate which may threaten the country's bid to become a Test-playing nation by 2005.