Regarded as a potential dark horse by many, Senegal’s World Cup dream ended at the round of 32 at the hands of Belgium.
Senegal had been 2-0 up heading into the final few minutes of the game, but goals from Romelu Lukaku and Youri Tielemans took the game to extra time.
Tielemans then scored a penalty in added time of extra time, the latest goal in World Cup history, to secure Senegal’s fate.
Now, the Senegalese Football Federation (FSF) have confirmed their decision to part ways with head coach Thiaw, 45.
The FSF released a formal statement clarifying the decision, saying: "After a thorough evaluation of the sporting results and prospects of the national team, the Executive Committee deemed it necessary to initiate this procedure in the best interests of Senegalese football."
The federation also confirmed that president Abdoulaye Fall will hold a press conference on Monday to further explain the "reasons behind this decision".