Phil Brown's tenure at Hull is officially over after a statement released by the League Managers Association confirmed both parties have agreed an "amicable departure".
Brown, who led the Tigers to the top flight for the first time in their history, was placed on gardening leave in March as the club battled relegation last season.
Iain Dowie took over team affairs in Brown's absence and although he was not retained at the end of the season there has been no way back for Brown.
Brown kept City in the Barclays Premier League on the final day of the 2008/09 season but he was struggling to repeat the feat when the club sidelined him and he spoke of his disappointment to be leaving the KC Stadium.
In a statement released through the League Managers' Association, he said: "I am very sad to be leaving Hull City.
"My three and a half years at the club were a fantastic experience for me and I am extremely proud of the club's achievements during that time.
"I would like to thank the players, my coaching staff and of course the fans for their magnificent support and commitment during my time as manager and I wish them well for the future. I would also like to take this opportunity to thank the LMA and its advisors for their excellent support over recent months.
"The expertise, advice and guidance provided since March, has made a very difficult period of my career easier to manage."
Brown went on to suggest he is ready to step straight back into management, a position strongly backed by LMA chief executive Richard Bevan.
Brown said: "Now that we have reached a resolution, I can now look forward to returning to management in the not too distant future."
Bevan added: "Phil can feel rightly proud of his successes at Hull and his achievements are testimony to his abilities as a manager. I would expect Phil to be back managing in the game at a very high level very soon."
The club also released a short statement thanking Brown for his service in a period that began with his appointment as first-team coach under Phil Parkinson in 2006.
The statement read: "The club confirms that Phil Brown's contract has ended with immediate effect and that he is no longer the manager of Hull City Football Club.
"We thank Phil for his significant contribution during his time as manager and we wish him well for the future.
"The club greatly appreciates Phil's co-operation, patience and understanding throughout the conciliation process.
"In addition, the club would also like to thank the LMA for their constructive involvement throughout and we are pleased that we have been able to resolve all outstanding issues."
Hull, who are saddled with large debts, are now looking for a new manager to spearhead their attempts to bounce back from the Coca-Cola Championship next term.