Hockey tipped to become Ambassador to United States

PRIME Minister Malcolm Turnbull has refused to comment on rumours former treasurer Joe Hockey is set to be offered a plum diplomatic role.

Mr Hockey is widely tipped to become Australia's Ambassador to the United States when former Labor leader Kim Beazley's term finishes at the end of this year

Mr Hockey resigned from federal politics at the weekend after telling Mr Turnbull he did not want to be considered for a position in the new Cabinet.

His resignation brings to an end a parliamentary career which spanned nearly two decades and could see the government face another by-election in the coming months.

Mr Turnbull said on Monday he would not speculate on whether Mr Hockey would be afforded the highly sought after diplomatic posting.

But he said he believed Mr Hockey still had more service to give Australia.