Porto have announced head coach Jose Peseiro will the leave the club by mutual consent.
Peseiro, 56, took over at Estadio do Dragao in January following the sacking of Julen Lopetegui earlier that month.
Lopetegui paid the price for a three-match winless run that included a 3-1 home defeat to Maritimo in the Taca da Liga.
Results remained inconsistent under his successor, Peseiro overseeing a 3-0 aggregate loss to Borussia Dortmund in the Europa League round of 32.
The club finished third in the Primeira Liga table, a distant 15 points behind champions Benfica and 13 back from second-placed Sporting Lisbon.
They then lost the final of the Taca de Portugal on penalties to Braga.
"The management of FC Porto reached an agreement with the coach of first-team football, Jose Peseiro, for the termination of his contractual relationship at the end of this season," a statement read.
Traditional heavyweights Porto have not won the Primeira Liga since 2012-13.