The south London club have lost their manager over a disagreement between he and the board regarding transfers following a meeting with co-chairman Steve Parish earlier on Thursday.
Welshman Pulis guided the Eagles to safety last season after taking the reins from Ian Holloway in November but has opted to leave Selhurst Park by mutual consent after the club failed to capture a number of transfer targets he had in mind.
It is believed that Pulis wanted Steven Caulker, Michu and Gylfi Sigurdsson but ended up with Fraizer Campbell, Brede Hangeland, Chris Kettings and Martin Kelly which has prompted his decision to leave.
Assistant manager Keith Millen will take charge for the 2014/15 season opener against Arsenal at the Emirates Stadium on Saturday.
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