The legendary former Italy centre-back was in his second spell in charge of the club having returned in November 2017, two years after being replaced by Luiz Felipe Scolari.

He guided Guangzhou to the title in 2019 but his position was called into question following last year's runners-up finish.

And with troubled majority shareholders Evergrande Group reportedly on the brink of collapsing, Guangzhou have decided to cut short Cannavaro's latest spell in charge.

"After friendly negotiation, Guangzhou Football Club decided to terminate the contract with Mr. Fabio Cannavaro," a club statement read on Tuesday.

"Since November 2017, Mr. Cannavaro has served as the head coach of the Guangzhou team, leading the team to win the 2018 Chinese Football Association Super Cup champion, the 2019 Chinese Football Association Super League champion and many other honours.

"Here, I would like to sincerely thank Mr. Fabio Cannavaro for his great efforts and positive contributions to the Guangzhou team, and wish him all the best in the future."