Mr Rann announced his plans to step aside as premier in August, but decided on a 10-week handover period to finalise a number of key projects and to mentor his successor, Jay Weatherill. His decision to go was prompted by moves from Labor's left and right factions to back Mr Weatherill, currently education minister, as the person to take the government to the next election in 2014.
That followed a string of damaging opinion polls, which showed falling support both for Labor and Mr Rann.
In recent weeks the premier has signed off on a deal for BHP Billiton to spend $30 billion expanding the Olympic Dam copper and uranium mine, as well as the banning of mining in the environmentally-sensitive Arkaroola Sanctuary in the Flinders Ranges.
Exactly how the handover of power will take place remains unclear, with Mr Rann expected to front question time in state parliament for the final time on Thursday afternoon.
He was also scheduled to attend the opening of the Adelaide's new film studios as premier on Thursday night.
But that should still allow him to have his resignation take effect from midnight or for him to officially step down at a meeting of the Labor caucus on Friday morning.
The same gathering should confirm Mr Weatherill as the new premier ahead of him being officially sworn in by the SA governor, along with his new cabinet.
Mr Rann has repeatedly said he was relaxed about stepping down after serving as premier since 2002.
He also led Labor for almost a decade in opposition, taking over after the 1993 election when the party was reduced to just 10 seats.
Mr Weatherill has said little about his plans ahead of becoming premier but has made no secret he considers himself more conciliatory than the man he replaces.
The Liberal opposition has used the transition period to repeatedly attack the government, painting Mr Rann as a lame-duck leader and Mr Weatherill as a premier on L plates.
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