Michael Laudrup was appointed manager of Swansea City in the summer of 2012.
He took over the position from Brendan Rodgers, having previously managed at Brondby, Getafe, Spartak Moscow and Real Mallorca.
Laudrup's departure comes four days before the club take on Cardiff City in a crucial derby at the Liberty Stadium.
More top news
Rain in the east will clear through this evening leaving much of the night drier with clearer spells.
Emergency services are being put through their paces in a two-day anti-terror exercise.
Carwyn Jones includes repealing the UK government's new restrictions on public sector strikes in his legislative programme.