Rafa Benitez's spell as Inter Milan coach ended after just six months on Thursday.
The Serie A champions announced that they have reached a "mutually satisfactory agreement" with Benitez to terminate his contract, which ran until the end of next season.
Benitez, who took charge in June after Jose Mourinho joined Real Madrid, guided Inter to the Club World Cup title last weekend.
But the European champions are languishing in seventh place in Serie A, 13 points behind city rival AC Milan.
"Inter Milan and Rafael Benitez can announce that they have reached a mutually satisfactory agreement for the early termination of his contract," the club said on its website. "Inter thank Rafael Benitez for his work in leading his team to success in the Italian Super Cup and the FIFA Club World Cup."
Benitez arrived in Milan after six years in charge at Liverpool, where he won the Champions League in 2005.
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