The Dutch gaffer has had a poor career at the Catalan club since his arrival.
Koeman endured the worst start to life on the Camp Nou bench since his compatriot Frank Rijkaard 17 years ago as that generated a lot of disgusts from the fans.
Koeman never won the heart of the fans and a protest to relieve him of his duties got intensed when the side lost to Real Madrid in the El Classico days ago and was booed as he was leaving the stadium.
It was obvious Koeman was sitting on a time bomb but what was keeping him long at Barca was the club's lack of funds to sponsor the termination of his contract.
After 14 months in charge with 39 wins, 12 draws and 16 losses in his 67 matches, the 58-year-old who won the 2021 Copa del Rey has now been sacked by Barcelona, a decision majority of the fans would be happy of.
Reports are that club president Joan Laporta informed him of the decision after the defeat against Rayo Vallecano.
"FC Barcelona has relieved Ronald Koeman of his duties as first team coach. The president of the club, Joan Laporta, informed him of the decision after the defeat against Rayo Vallecano. Ronald Koeman will say goodbye to the squad on Thursday at the Ciutat Esportiva.
"FC Barcelona wishes to thank him for his service to the Club and wishes him all the best in his professional career", Barcelona said in an official statement.
Barcelona are in ninth spot in LaLiga with 15 points after 10 matches.
Former Barcelona midfielder Xavi Hernandez who is currently the head coach for Qatari side Al Sadd has been tipped as the perfect choice to replace departed Koeman.