Prime Ministers should serve for no longer than two terms and MPs should retain their seats for no more than four parliamentary terms, according to Joseph Muscat.
Dr Muscat's comments to reporters on Friday reinforced his pledge to step down before the next general election.
“Speaking for myself, I grew tired of seeing politicians who only care about their seats and who remain stuck to them. I want to send out a message that politicians are there to serve the country for a period of time, after which they move on. Everybody has a life,” the prime minister said.
He said he hopes the issue of term limits should be discussed in the country's new convention.
Speculation has been growing that Dr Muscat would rethink his decision to extend his political career, especially after a resounding electoral victory in June 2017, but his recent comments and back-room trading confirmed that a change at the top could be imminent.
Health Minister Chris Fearne, Transport Minister Ian Borg, and MEP Miriam Dalli are those often cited as potentially interested in the post.
Dr Muscat said he would not speculate on minister Konrad Mizzi's potential candidature for the post of party leader and eventually prime minister.
Cabinet ministers and Labour Party delegates confirmed last week that Dr Mizzi, a former deputy leader, had made contact with them to ask for their support should he decide join the contest for control of the Labour Party.
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