Porto have parted company with head coach Nuno Espirito Santo by mutual agreement.
The 27-time Portuguese champions confirmed the news in a brief statement on their official website on Monday.
Former Valencia boss Nuno, who enjoyed two spells with Porto during his playing career as goalkeeper, signed a two-year contract to succeed Jose Peseiro in June last year.
He improved upon their third-place finish from 2015-16, but Porto were still unable to prevent rivals Benfica claiming a third consecutive Primeira Liga title.
Porto finished six points off the pace in second, having faltered in the home stretch with a run of five draws and three wins before a 3-1 final-day loss at Moreirense.
Nuno led Porto to the last 16 of the Champions League, where they were knocked out by finalists Juventus.
Nuno Espírito Santo deixa FC Porto May 22, 2017
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