Rob Lucas says the four years remaining in his eight-year legislative council term will be his last and as the only Liberal to have served in government before, his role is to mentor his colleagues over the next four years.

"I'm sure at the end of the four-year term there will be more than enough exciting new young talent coming through the party to replace me," Mr Lucas told ABC radio on Tuesday.

Mr Lucas previously served as treasurer from 1997 to 2002 and has also held the education and trade portfolios.

The Liberals ended 16 years of Labor rule at Saturday's state election, claiming at least 24 seats in the 47-seat parliament.

Australian Associated Press