He announced his resignation in a letter addressed to the party's Secretary General Mirza Fakhrul Islam Alamgir on Tuesday.
"I have resigned due to personal reasons. After thinking long and hard, I've come to the conclusion that I have nothing more to contribute to the party. Therefore I've resigned from the party," Morshed told bdnews24.com.
The senior politician also criticised the BNP's leadership and said, "BNP is a massive party with huge popularity and public acceptance. This party is now running its operations over Skype. It's turned into the 'Bangladesh Nationalist Skype Party'. This is painful."
"I believe the next generation must assume leadership roles within the party -- that would be my recommendation."
Morshed's aide handed over the resignation letter to BNP Senior Joint Secretary General Ruhul Kabir Rizvi at the party headquarters in Naya Paltan on Tuesday, according to an office staffer.
But Rizvi said he was unaware of the matter when contacted.