It was a “difficult decision” to fire the 42-year-old former Arsenal and Manchester United star, the club’s technical director Devy Rigaux said in a statement.
“Robin van Persie has given everything for the club over the past one-and-a-half years,” said Rigaux.
“He certainly deserves credit for concluding a difficult season with a final second-place finish,” securing Champions League football at De Kuip for next season.
The club had conducted an internal analysis of the points scored and the manner of play and decided that it was time for new blood at the helm.
“The conclusion was that it is better for us to start the next season with a new head coach,” said Rigaux.
Feyenoord expect to announce in the coming weeks who will take over at De Kuip.
As well as finishing well behind runaway Eredivise champions PSV, Feyenoord also endured a tough season in Europe.
Turkish side Fenerbahce knocked them out of the Champions League in the final qualifying stage.
The Europa League group stage also proved an unhappy hunting ground, with Feyenoord losing six out of their eight matches, beating only Sturm Graz and Panathinaikos.
Van Persie had a glittering career as a player, representing the Netherlands more than 100 times, as well as a prolific club career for Manchester United, Arsenal, Fenerbahce and Feyenoord.
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