Manager Zinedine Zidane has left Real Madrid for the second time in his coaching career.
“Real Madrid CF announces that Zinedine Zidane has decided to end his current stage as coach of our club,” Real said on their official website.
“It is now time to respect his decision and show him our appreciation for his professionalism, dedication and passion all these years, and for what his figure represents for Real Madrid.
“Zidane is one of the great myths of Real Madrid and his legend goes beyond what he has been as a coach and player of our club.”
Real failed to win a trophy this season and were pipped to the La Liga title by city rivals Atletico Madrid on a dramatic final day on Saturday.
Zidane, 48, won three consecutive Champions League titles in his first period in charge between 2016 and 2018.
He returned to a club in disarray 10 months later and secured a second La Liga title as manager last season.
Not since the 2009-10 campaign have Real failed to win a trophy. They suffered an early exit from the Copa del Rey at the hands of third division side Alcoyano and lost to Chelsea in the Champions League semi-finals.
Earlier this month, Zidane, who had a year left on his contract, denied reports that he had informed his squad he would leave at the end of the season.
His future was a constant topic of discussion in the Spanish press all season, contributing to several spiky exchanges, with the former France forward saying he and his players deserved more respect.
He is the only manager to win the Champions League three times, and his trophy haul at Real included another La Liga title, two Club World Cups, two Uefa Super Cups and two Spanish Super Cups.