Victor Fernandez has been sacked as coach of Real Zaragoza following their 2-2 home draw with Real Mallorca on Sunday.
The result saw Zaragoza fall to 12th in La Liga, just two points above the relegation zone, after their promising sixth place finish last season.
A statement said on the club’s official website said: “It has been decided by mutual agreement between the club and the coach to rescind his contract.
“The club would like to thank him for his efforts and professionalism.”
Fernandez was first in charge at the club from 1990-97, winning the now defunct Cup Winners’ Cup in 1995, before returning in June 2006 after a spell with Porto.