South Korea has been hit by widespread demonstrations ever since the government agreed in April to lift the import restrictions, imposed after traces of the controversial mad cow disease or BSE were found in U.S. beef.
According to a government spokesman, Prime Minister Han Seung-soo together with other ministers delivered his resignation to President Lee Myung-bak during a Tuesday meeting.
Despite government and U.S. assurances that the meat is safe, up to a million people are expected to take to the streets on Tuesday night in the largest protests since the row began.
Yonhap said the president, who has seen his popularity plummet to an all-time low since his election three months ago, is expected to accept the resignations of the agriculture, finance and foreign ministers, who were all involved in the deal, although a spokesman said no official decision has been made as yet.