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The Spaniard was appointed as the successor to Ruud van Nistelrooy last July, but leaves with Leicester languishing 14th in the Championship and six points off the play-off places.

A 2-1 home defeat to struggling Oxford United proved the final straw for the hierarchy at Leicester, who wielded the axe on Sunday.

In a statement released on the club's official website, chairman Aiyawatt Srivaddhanaprabha said: "This has been a difficult decision and not one I have taken lightly.

"I would like to thank Marti for the total commitment he has shown during his time at Leicester City.

"He gave everything to the role and worked tirelessly to help us achieve our targets.

"However, I believe this is the right step at this time to improve performances and results, and to act in the best interests of Leicester City Football Club. Marti leaves with our thanks and our best wishes for the future."

Leicester won just 10 of 29 Championship fixtures under Cifuentes, drawing eight, and losing 11.

He had a win percentage in the EFL Championship of 34.38 per cent, and a points-per-game average of 1.31.

First team coach Andy King will take charge of the Foxes on an interim basis.