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Recent observations have revealed an interesting active galactic nuclei (AGN) subclass that shows strong activity at large scales ($\sim1$ kpc) but weaker at small scales ($<10$ pc), suggesting a strong change in the mass accretion rate of the central engine in the past $10^{3-4}$ yr. We systematically search for such declining or fading AGN by cross-matching the SDSS type-1 AGN catalog at $z<0.4$, covering the [OIII]$\lambda5007$ emission line which is a tracer for the narrow-line region (NLR) emission, with the WISE mid-infrared (MIR) catalog covering the emissions from the dusty tori. Out of the 7,653 sources, we found 57 AGN whose bolometric luminosities estimated from the MIR band are at least one order of magnitude fainter than those estimated from the [OIII]$\lambda5007$ emission line. This luminosity declining AGN candidate population shows four important properties: 1) the past AGN activity estimated from the [OIII]$\lambda5007$ line reaches around the Eddington-limit, 2) more than 30% of the luminosity declining AGN candidates show a large absolute variability of $\Delta W1 > 0.45$ mag in the previous $\sim10$ yr at the WISE 3.4 $\mu$m band, 3) the median ratio of $\log$([NII]$\lambda6584/ \mathrm{H}\alpha\lambda6563)=-0.52$, suggesting a lower gas metallicity and/or higher ionization parameter compared to other AGN populations. 4) the second epoch spectra of the population indicate a spectral type change for 15% of the sources. This population provides insights on the possible connection between the luminosity decline which started $\sim10^{3-4}$ yr ago and the decline in the recent $10$ yr., Comment: 21 pages, 10 figures, 2 tables (1 MRT), accepted for publication in ApJ