The 49-year-old has been heavily linked with the job of Saudi Pro League side Al-Hilal.

Inter were chasing the treble as recently as late April only to be beaten by city rivals AC Milan in the Coppa Italia semi-finals before seeing Napoli claim the Serie A title by a single point.

The final indignity came last weekend when they were routed 5-0 by PSG in Munich, their second defeat in the European showpiece in three years.

It was decided that Inzaghi should depart during a meeting between the former Italy international and the club on Tuesday afternoon.

Inter president Giuseppe Marotta said: “I would like to thank Simone Inzaghi for the work he has done, for the passion shown and also for the sincerity in today’s discussion, which led to the common decision to part ways.

“Only when we have fought together to achieve success day by day can we have a frank dialogue like the one that happened today.”

Inzaghi won six trophies during his four seasons at San Siro, including the 2023-24 Serie A title.

He said: “The time has come for me to say goodbye to this club after a four-year-long journey, throughout which I gave my all.

“Every day my first and last thought was always about Inter. It was then reciprocated with professionalism and passion by the players, leaders, and every single one of the club’s employees.

“I would like to thank the shareholders for their unwavering support, as well as the president and his associates for their daily help and constant dialogue.

“On every difficult day, just like today, I think it’s right to reiterate this sense of gratitude, even for the meeting that we had not long ago. We were sincere and together we decided to conclude this magnificent journey.”