Ukrainian President Viktor Yanukovych on Monday accepted the resignation of Prime Minister Mykola Azarov and the entire government, the presidency said.

The ministers will remain in their posts until a new government is formed, a statement said.

"President Viktor Yanukovych accepted the resignation of Prime Minister Mykola Azarov, satisfying the demand of the latter," the statement added.

It noted that according to Ukranian law, whenever the prime minister resigns the entire government must do so alongside the government chief.

The move comes as a new parliament prepares to meet after parliamentary elections on October 28 which raised new concerns about democratic standards under Yanukovych.

The ruling Regions Party appears to have retained control of the Verkhovna Rada with the help of independents despite a strong challenge from the opposition parties of boxer Vitali Klitschko and imprisoned ex-premier Yulia Tymoshenko.

A Russian-speaking bureaucrat mocked by many in Ukraine for his dry and humourless image, Azarov took office in 2010 shortly after Yanukovych defeated Tymoshenko in fiercely contested presidential elections.