Just nine months on from lifting the Premier League trophy, the Italian has left the club after they became mired in relegation battle.
The Foxes are currently just a single point outside of the Premier League relegation places, having won the title last season.
Ranieri, 65, oversaw the greatest shock in top-flight history when he led the club to the title, but things have unravelled this year with the club struggling for league form and having been knocked out of the FA Cup by League One side Millwall.
He was given a vote of confidence last week by Leicester chairman Vichai Srivaddhanaprabha but insisted he was relaxed about his position at the club.
Leicester were beaten2-1 by Sevilla in the Champions League on Tuesday night,a match which has turned out to have been the Italian’s last in charge.
