Monaco's Brazilian coach Ricardo will leave at the end of the season, the Ligue 1 club said on its website on Wednesday.
"(Club) president Etienne Franzi and Ricardo Gomes Raymundo met after (Saturday's) Monaco v Valenciennes game.
"They have decided to part company by mutual consent (and) not continue their collaboration beyond this season," Monaco said in a statement.
Monaco are 11th in Ligue 1 with two matches left following their 1-1 draw at home to Valenciennes.
Former Brazil and Paris St Germain defender Ricardo joined Monaco from Girondins Bordeaux two years ago.