According to CNBC, citing Dow Jones, Tsipras will hand in his resignation later on Thrusday.
And according to Reuters, which cites a Greek government official, Greece is likely to hold early elections on September 20.
And so less than a year after Greece's left-wing Syriza party and its new prime minister Alexis Tsipras were voted into power, we've got a snap election in Greece coming up in September.
Tsipras is set to make an address later on Thursday.
Greek newspaper Kathimerini had earlier reported that elections would likely be announced on Thursday.
This latest round of elections come as Syriza has splintered following the passage of Greece's latest bailout package.
Back in July, Greek voters voted against a new bailout package, but eventually the government gave in to demands from its European creditors, causing a divide in Syriza, which currently controls Greek parliament.
But as Kathimerini wrote on Thursday, "votes in parliament to pass the stringent austerity measures laid bare a revolt by nearly a third of SYRIZA lawmakers, forcing Tsipras to rely on opposition support and robbing him of a guaranteed parliamentary majority."
And so with fresh elections, Tsipras cane work towards flushing out the dissent in his party and firming up Syriza's power in parliament.
This post will be updated as new developments roll in.