Under a deal made by the three main parliamentary groups after elections in early June, the presidency of the parliament will be handed to a member appointed by the socialist bloc at the end of 2011, the statement said.
The initial indications are that the post will go to veteran German socialist Martin Schulz.
Buzek, a chemical engineer by training, headed Poland's centre-right government from 1997 to 2001, bringing in reforms to the pension, education and health systems. He was elected to the European Parliament in 2004 with a record number of votes.