Tommy Wright stepped down as manager of St Johnstone after seven years in charge.
The Perth club says negotiations on the possible exit of the 56-year-old at the end of the current campaign have been ongoing since before the coronavirus outbreak.
However, both parties felt that now was an "appropriate time" for Wright's "highly valued" departure.
Wright, who still had a two-year contract, was linked to a vacant job in Northern Ireland.
"We all feel that we have been successful in creating a young and exciting team, and the club is well positioned for the future," said a statement from the club.
Wright joined the club in November 2011 as an assistant to Steve Lomas and took office in June 2013.
He took them to their first Scottish Cup victory in 2014, as well as campaigns in Europe and in several games in the top six. He was the third coach who served the most at SPFL.
St Johnstone was seventh in the Scottish Premiership when the season was interrupted on March 13.
Wright said he was on "a fantastic trip" with the club and that the decision had not been taken lightly
He thanked the players, staff and fans and added: "I will always occupy a very special place for all of you and I am very proud of what we have achieved together.
"We have an exciting group of young players and I look forward to seeing their progress with you all."