Belgium was one of the pre-tournament favourites but failed to live up to expectations in France.

Wilmots' men were knocked out in the quarter-final by Wales after qualifying second from Group E behind Italy.

The KBVB stressed immediately after the tournament that it would not make any hasty decisions, but has now opted to part company with Wilmots.

"The Royal Belgian Football Association has reached an agreement with Wilmots to end his contract, that lasted until 2018," an official statement read.

"We would like to thank Wilmots for his work during the last four years.

"With Wilmots as head coach, the Red Devils have climbed from the 54th position to the top of the FIFA World Ranking. He managed to win 34 games out of 51, including eight draws.

"Above all, the fans have reinstalled their love for the Belgian Red Devils during this period. 

"The KBVB's Technical Commission has evaluated EURO 2016 and has declared that the intended goals have not been reached. There is a common feeling that the team needs a new impulse to lead this group towards a top result at a major tournament. 

"The KBVB will immediately start the procedure to find a new head coach, in a transparent way. The idea is to start the upcoming games in September with a new coach, beginning with an international friendly in Brussels against Spain on September 1."

Wilmots took charge of Belgium in May 2012 after it had failed to qualify for that year's European Championship and guided the Red Devils to the quarter-finals at the 2014 World Cup, before repeating that result at EURO 2016.