Murray's reign included an unprecedented three-in-a-row Scottish Newspaper of the Year awards, says Trinity Mirror.
Murray, who also has responsibility for the Sunday Mail in his role as Editor in Chief (Nationals) at Media Scotland, said: "The decision to step down is entirely mine. I will always have a great affection for the Record. It has been a part of my life for many years.
"And while being editor of this great Scottish institution has been a massive personal privilege, the greater privilege has been working alongside the best group of journalists in Scotland."
Murray will leave on Friday, March 2.
Media Scotland Digital Director David Dick takes over as Editor in Chief (Nationals and Digital), reporting to Managing Director Allan Rennie.
Murray added: "I congratulate David and wish him - and all of the Media Scotland staff - every success for the future.”
David worked at the Evening Times in Glasgow before joining the launch team of the Sunday Herald in 1999 and became Sports Editor then Deputy Editor.
In 2005 he moved to The Age in Melbourne where as Executive Editor (Sport) he ran Fairfax Media's coverage of the 2008 Beijing Olympics and the 2010 World Cup in South Africa.
David went on to launch The Age's tablet edition before returning home as Media Scotland's Digital Director in 2015.
He has built Media Scotland's digital team into one of the most successful in the country with dailyrecord.co.uk winning Digital Team Of The Year at last year's Scottish Press Awards.
David also launched Glasgow Live which, say the publishers, in less than two years has become the city's No.1 website.
He said: "It is an incredible honour to be asked to lead the finest group of journalists in the country.
"There is no bigger job in the Scottish media and while the industry faces challenges we have an outstanding team which will ensure a bright future for our print and digital mastheads.
"My role in digital has been incredibly rewarding and we have enjoyed huge success over the past two and a half years. Long may that continue.
"Following Murray Foote as the Editor In Chief of the print titles is no small task and I know that we, as a team, can build on his success."