Hadith: The Children of Israel were ruled by the prophets; whenever a prophet passed away, another would succeed him. Verily, there will be no prophet after me, but there will be many caliphs

عَنْ أَبِي حَازِمٍ قَالَ: قَاعَدْتُ أَبَا هُرَيْرَةَ رضي الله عنه خَمْسَ سِنِينَ، فَسَمِعْتُهُ يُحَدِّثُ عَنِ النَّبِيِّ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ، قَالَ:
«كَانَتْ بَنُو إِسْرَائِيلَ تَسُوسُهُمُ الأَنْبِيَاءُ، كُلَّمَا هَلَكَ نَبِيٌّ خَلَفَهُ نَبِيٌّ، وَإِنَّهُ لاَ نَبِيَّ بَعْدِي، وَسَيَكُونُ خُلَفَاءُ فَيَكْثُرُونَ» قَالُوا: فَمَا تَأْمُرُنَا؟ قَالَ: «فُوا بِبَيْعَةِ الأَوَّلِ فَالأَوَّلِ، أَعْطُوهُمْ حَقَّهُمْ، فَإِنَّ اللَّهَ سَائِلُهُمْ عَمَّا اسْتَرْعَاهُمْ».
[صحيح] - [متفق عليه] - [صحيح البخاري: 3455]

Abu Hāzim reported: I accompanied Abu Hurayrah (may Allah be pleased with him) for five years, and I heard him narrate from the Prophet (may Allah's peace and blessings be upon him), who said:
"The Children of Israel were ruled by the prophets; whenever a prophet passed away, another would succeed him. Verily, there will be no prophet after me, but there will be many caliphs." They said: What do you command us to do? He said: "Fulfill the pledge of allegiance to the first, then the next. Give them their due rights, for Allah will ask them about what He entrusted to them."
[Authentic hadith] - [Narrated by Bukhari & Muslim] - [Sahih Bukhari - 3455]

Explanation

The Prophet (may Allah's peace and blessings be upon him) informed that the Children of Israel were led by the prophets, who managed their affairs as rulers and leaders do with their subjects. Whenever corruption appeared among them, Allah would send them a prophet to set their matters right and remove the alterations they had made to the rulings. He added that there would be no prophet after him to do what they used to do. After me, there will be caliphs, and they will increase in number, and disputes and disagreements will arise among them. Thereupon, the Companions (may Allah be pleased with them) asked the Messenger of Allah (may Allah's peace and blessings be upon him): What do you command us to do? He said: If a caliph is given the pledge of allegiance after another caliph, the pledge to the first one is valid and must be honored, while the pledge to the second is invalid, and it is forbidden for him to seek it. Give them their due rights, obey them, and live with them in obedience, except in matters that involve disobedience to Allah, for Allah will question them and hold them accountable for what they do to you.