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Head coach Roberto de Zerbi will leave Brighton after their final Premier League match of the season at home to Manchester United on Sunday.
Chairman Tony Bloom said the Premier League club and De Zerbi "have mutually agreed" that the Italian will depart.
Former Shakhtar Donetsk coach De Zerbi, 44, joined the Seagulls in September 2022 on a four-year contract.
Brighton finished sixth last season, with the club’s highest ever top-flight finish securing European qualification for the first time in their history.
"Roberto has given us two excellent seasons of service in which he has led the club to new heights, not least our first ever European campaign which will live long in the memory of Albion fans," said Bloom.
"We have mutually agreed to end Roberto’s contract at a time that suits both parties allowing us the earliest opportunity to plan for next season, and Roberto plenty of time to consider his next move and his future."
More to follow.