Vitali Klitschko has vacated his world heavyweight title in order to focus on his political career.

Klitschko has a 45-2 professional record with 41 knockouts and was the eighth longest reigning heavyweight champion of all time, having held the WBC belt for more than five years.

The 42-year-old was declared a 'Champion Emeritus' by the World Boxing Council earlier today, meaning that he would be able to challenge the new champion straight away should he decide to return to the ring.

However, Klitschko has admitted that the likelihood of him lacing up his gloves again is slim as he prepares to stand for the Ukrainian presidency.

"[I] could not imagine at all something like that happening as things stand now," the New Zealand Herald quotes Klitschko as saying.

Vitali's younger brother Wladimir currently holds the other world heavyweight titles.