The Belgian 49-year-old took over from Croat Niko Kovac in January 2022 but could only lead them to sixth spot, two points below Lille in the Europa Conference League play-off round place.

Clement's contract on the Cote d'Azur ran until 2024 but he failed to repeat the feat of his first season in charge by taking Monaco to Champions League qualifying.

"The sporting dynamic at the end of this season which ended with a finish in the table that was below expectation showed that a change in charge of the first team was needed," Monaco said in a statement.

"Monaco want to thank Philippe and his staff for their flawless investment since day one and wish them the best for their future."

According to newspaper L'Equipe, ex-Leeds coach Jesse Marsch as well as Salzburg boss Matthias Jaissle are among the candidates to replace Clement.