His job was threatened after losing a comeback victory to eventual winner Real Madrid during the quarterfinals of the UEFA Champions League in the 2021-22 season.
The French giants are in the midst of making major changes to the club after tying down star man Kylian Mbappe to a new deal - with the French forward said to be given new influence over the club.
The former Tottenham boss won Ligue 1 but failed to deliver the Champions League trophy the club craves despite having an all-star line-up featuring Neymar, Lionel Messi and Mbappe.
In a statement on Tuesday, the French giants said: 'Paris Saint-Germain confirm that Mauricio Pochettino has ended his role at the club. We would like to thank Mauricio Pochettino and his staff for their work and wish them the best for the future.'
Pochettino joined the French giants in January 2021 on an 18-month contract to replace outgoing Thomas Tuchel.
The Argentine finished second in the league during his first campaign, crashed out of the Champions League in the semi-finals, but won the Coupe de France Final.
The 50-year-old extended his contract until the summer of 2023 and went on to win the league this campaign, although they crashed out in Europe in the last-16 to Real Madrid.
His failure in Europe has led to calls for him to be sacked for the last few months despite winning the league title, which has now been confirmed.