"I felt the time was right for me to announce that I will be passing the torch at the end of the season and moving on to some new challenges," Amstutz said. "I love the University of Toledo and have enjoyed my eight seasons as head football coach."
Amstutz, 53, will become director of special projects for the alumni relations office, starting in January.
Toledo has a 2-6 record so far this season. One of the wins was a 13-10 decision over Michigan of the Big Ten Oct. 11.
The Rockets were 5-7 the past two seasons after a 9-3 mark in 2005.
"Tom Amstutz has been one of the most successful football coaches in the history of Toledo football, and he leaves behind a legacy of tremendous accomplishments on the field," Athletic Director Mike O'Brien said.