'Pass the torch': Biden shares vision for the future

Biden said it had been the honour of his life to serve in the role of President but "the defense of democracy is more important than any title".

The address was the first time Biden had spoken on his rationale for dropping out of the presidential race after weeks of insisting he was the best candidate to take on former President Donald Trump.

"I have decided the best way forward is to pass the torch to a new generation," Biden said in the prime-time address.

The 81-year-old leader said he wanted to make room for "new voices, fresh voices, yes, younger voices" with his decision to step aside for 59-year-old Vice President Kamala Harris.

"That is the best way to unite our nation," he said.

Biden outlined his legacy while in the role including major domestic legislation and resetting foreign relationships.

He said he would use the remainder of his term working to bring down inflation, end the war between Israel and Hamas in Gaza, and fight to boost government support to cure cancer.

While avoiding mentioning Republican rival Trump, Biden pitched his record towards the success of his hopeful successor in the November election.

"The great thing about America is here, kings and dictators do not rule," Biden said. "The people do. History is in your hands. The power is in your hands. The idea of America - lies in your hands."

Biden said Harris is a strong leader who would make an effective president.

"She's experienced, she's tough, she's capable. She's been an incredible partner to me and a leader for our country. Now the choice is up to you the American people."

First Lady Jill Biden shared a handwritten note thanking Americans for the trust put in her husband, "it's time to put that trust in Kamala," she wrote.