"After an in-depth analysis of its sporting situation, Paris Saint-Germain decided to terminate Thomas Tuchel's contract," the French giants announced in a statement.

Argentinian Mauricio Pochettino is widely reported to be the favourite to become the next PSG coach.

Tuchel, whose axing was widely reported but unconfirmed last week, managed PSG 127 times in all competitions, with 95 wins, 12 draws and 20 defeats.

His trophy haul featured two Ligue 1 titles (2019, 2020) as well as the French Cup and French League Cup in 2020.

The 47-year-old German also led the Parisian club to their first ever Champions League final last August, which they lost 1-0 to Bayern Munich.

"I would like to thank Thomas Tuchel and his staff for all they have contributed to the club," said PSG chairman Nasser al-Khelaifi.

"Thomas has put a lot of energy and passion into the job, and we will of course remember the good moments we shared together. I wish him all the best for the future."