Opposition lawmaker Özgür Özel on Tuesday delivered what he described as his final address from the Republican People's Party (CHP) parliamentary group, announcing his new political party as he formally signaled his departure from the country's main opposition party.

Opening his speech with an emotional farewell, Özel told lawmakers he had taken the podium "with the sadness of a farewell whose time has come," describing the moment as "a historic crossroads" for both himself and Turkish politics.

Addressing supporters, Özel said the newly formed party would emerge as the country's main opposition party by a wide margin.

"We are founding our new party, and it will become Türkiye's main opposition party by a clear margin," Özel said among the slogans "Istiklal" by a fervent audience, the rumored name of his new party.

Despite leaving the CHP, Özel said his political movement would remain committed to the principles of social democracy and the founding values traditionally associated with the CHP.