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.