Lopetegui was given an ovation by Sevilla fans as he left the pitch. He is set to be replaced by Argentine Jorge Sampaoli.
Here is Sevilla's statement in full:
"It brings an end to a successful period with three magnificent campaigns in which the club achieved their objectives and a fourth season where unfortunately the results have not gone our way, with the club taking five points from a possible 21 in LaLiga.
"In total, Julen took to the Sevilla FC dugout on 170 occasions: 121 LaLiga matches, 15 in the Copa del Rey, 16 in the Europa League, 17 in the Champions League and one in the UEFA Super Cup.
"He has 89 wins, 45 draws and 35 defeats, which also puts him in third place in terms of wins, behind only Caparrós and Emery.
"Lopetegui will forever remain at the top of Sevilla FC history for his brilliant achievement of a sixth UEFA Europa League title in the 2019/20 season, his first in charge, which brought him into the prestigious group of seven coaches who have lifted a trophy with the club.
"He has also achieved the historic milestone of three consecutive Champions League qualifications via LaLiga, with a total of 222 points from 121 games.
"He also helped Sevilla FC to achieve their record points total to date in the top flight with 77 points in 2020/21, as well as the first Zamora Trophy in our history with Yassine Bono last season.