The Gunners lost patience with Emery after Thursday's shock 2-1 UEFA Europa League loss at home to Eintracht Frankfurt.

Emery leaves Arsenal languishing eighth In the Premier League, eight points adrift of the UEFA Champions League places.

Speaking on behalf of the Arsenal board and owner Kroenke Sports & Entertainment, Josh Kroenke said: "Our most sincere thanks go to Unai and his colleagues, who were unrelenting in their efforts to get the club back to competing at the level we all expect and demand.

"We wish Unai and his team nothing but future success."

Emery arrived as Arsene Wenger's replacement ahead of the 2018-2019 season, but the former Paris Saint-Germain boss was unable to deliver.

Despite glimpses of improvement, Arsenal failed to qualify for the UEFA Champions League last season after finishing fifth.

It subsequently broke its transfer record by paying £72 million ($116 million) to prise Nicolas Pepe from Lille for the 2019-2020 campaign, while Kieran Tierney and David Luiz also moved to the club.

However, their arrivals have not resulted in an upturn of fortunes with Emery's task made even harder by having to strip Granit Xhaka of the club captaincy.

Xhaka was withdrawn to widespread boos during the 2-2 draw with Crystal Palace on 28 October (AEDT) and reacted by cupping his ear and mouthing obscenities to supporters.

The Switzerland international subsequently lost the armband and did not make a first-team appearance until the Eintracht game, Emery's last.