Boris Johnson is the bookies' favourite - but who else could beat the former London mayor to Number 10?
The ink had barely dried on David Cameron's resignation speech on the morning of the EU referendum result when the race to replace him as Tory leader and PM got under way.
The Conservative Party's 1922 Committee executive has recommended that a new Prime Minister and party leader should be in place by 2 September so it is time for those with leadership ambitions to garner support.
Here are the runners and riders:
:: Boris Johnson
Popular with the public, the former London mayor has spent years trying to deflect questions about his leadership ambitions - and hasn't always been successful.
His decision to bat for Leave was seen by many as a political gamble which, if successful, could see him replace his former Eton chum as Prime Minister.
He is now favourite with all the bookies and is expected to throw his hat into the ring later.
:: Theresa May
Seen by many as the main rival to Mr Johnson after a successful stint at the Home Office.
Mrs May backed Remain - but did so in a less provocative way than many of her senior Tory colleagues and was careful not to alienate either side.
She would be a popular choice within the party and will present herself as the "unity" candidate when she announces her bid.
:: Stephen Crabb
The Work and Pensions Secretary was the first Tory MP to officially announce he was running as a candidate for leader.
The MP confirmed he would enter the contest with Business Secretary Sajid Javid as his running mate.
Mr Crabb, who backed staying in the European Union during the referendum campaign, said uniting the country was his main priority.
He set out three aims for the negotiations: controlling immigration, a close economic relationship with the EU and ending the supremacy of EU law.
:: Liam Fox
The former defence secretary, who lost out to Mr Cameron in the election for the Tory Party's top job 11 years ago, has also confirmed he will stand.
The Brexiteer has good grassroots support, particularly in the South West.
Even if he does not make it to the final two as in 2005, he may still get a seat at the Cabinet table. So it is a win-win for him.
:: Michael Gove
The Justice Secretary has controversially entered the race taking a swipe at Mr Johnson.
He was considered by Number 10 to be "toxic" among the electorate after being removed from his education post in 2014 - but his position at the heart of the Leave campaign has put him among those being talked about.
He had remained pretty quiet since the vote and had repeatedly said he has no leadership ambitions.
On the eve of the nominations deadline, in a leaked email his wife, journalist Sarah Vine, warned him about the risks of backing the former London mayor without "specific assurances" about his role in any Johnson-led Cabinet.
:: Nicky Morgan
The woman who replaced Mr Gove as Education Secretary is said by Sky sources to be sounding out the level of support she would receive for any leadership bid.
From the left of the party, Ms Morgan would continue the Cameron legacy.
She told Sky News: "To be considered to be the leader would be an enormous privilege."
Her opposition to Brexit appears to make her a long shot.
:: Andrea Leadsom
Brexit-supporting Mrs Leadsom announced she was running for the Conservative Party leadership, tweeting: "Let's make the most of the Brexit opportunities!"
She was tipped as "one to watch" within the party after entering Parliament in 2010.
The former City high-flyer was appointed Energy Minister after the general election and her pro-Brexit stance has made her fourth favourite with most bookmakers.
:: Jeremy Hunt
The Health Secretary has said he is "seriously considering" a bid to be the next leader of the Conservative Party.
Mr Hunt, who campaigned to Remain and has been involved in a long-running contract dispute with junior doctors which has resulted in five strikes, has called on the Government to delay invoking Article 50 and to hold a second referendum on Britain's terms for leaving the European Union.
:: George Osborne
Many believe the Chancellor - once viewed as a likely successor to Mr Cameron - irreparably damaged his chances of moving from Number 11 to Number 10 with his doomsday warnings that a Leave vote would result in a "Brexit budget" containing cuts and a tax hikes.
Earlier this week he said he would make his position clear in the coming days.
He ruled himself out of the race in a column for The Times the following day, saying he was "not the person to provide the unity" his party needs.
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