Chairman of the 1922 Committee Sir Graham Brady has announced that eight MPs have been successful in the first ballot of the Conservative leadership campaign.
Rishi Sunak, Penny Mordaunt, Liz Truss, Nadhim Zahawi, Jeremy Hunt, Kemi Badenoch, Suella Braverman and Tom Tugendhat progress into the next stage of voting.
The news follows an announcement from former Health Secretary Sajid Javid, who pulled out of the Tory leadership race, saying he looks "forward to seeing the debate unfold".
Sir Graham read out the names of the successful candidates in alphabetical order, outlining how the first round ballot will take place tomorrow between 1.30pm and 3.30pm, with the result announced shortly after.
He refrained from naming three MPs who have not made it, including Rehman Chishti, Grant Shapps and Sajid Javid.
Sir Graham Brady (4th from left) announces which MPs have gained the support of the 20 MPs Stefan Rousseau
Rishi Sunak became the bookies favourite following the news Stefan Rousseau
The latest odds from the Betfair Exchange highlighted how Rishi Sunak became the favourite new hopeful Tory leader, obtaining the odds of 2/1 following the news.
Penny Mordaunt followed closely behind at 21/10, with Secretary of State Liz Truss becoming the only other contender with single-figure odds at 7/2.
Following the news, the newly appointed Chancellor of the Exchequer, Nadhim Zahawi, who's odds currently stand at 50/1, tweeted his delight at being nominated, saying: "Delighted to be nominated by my colleagues to stand for the leadership of our Party, and the country."
Earlier today Transport Secretary Grant Shapps announced that he was abandoning his bid and would be supporting Mr Sunak, the former chancellor.
Foreign Secretary Liz Truss gained the endorsement of prominent Boris Johnson loyalists Jacob Rees-Mogg, Nadine Dorries and James Cleverly, in what was seen as a concerted move to prevent Mr Sunak entering No 10.
Many supporters of the Prime Minister remain furious with Mr Sunak for the role he played in bringing him down, with his decision last week to quit helping to trigger a further slew of resignations.