Kevin Muscat will leave Melbourne Victory, the club has confirmed.
Muscat, 45, is set to depart after Victory's AFC Champions League tie with Sanfrecce Hiroshima on Wednesday night.
He leaves after 14 years of exceptional service, serving as player, assistant coach and head coach.
According to the Victory, both the club and Muscat came to a mutual agreement that it was time to part ways, with the former Wolverhampton Wanderers, Rangers, Millwall and Crystal Palace defender set to take time out of the game.
“Kevin has been incredibly successful as both a player and coach and will go down as one of the most influential figures in Melbourne Victory’s history,” said Victory chairman Anthony Di Pietro.
“He is a talented and highly successful coach, has been such an integral part of our club and will always be part of it."
One of the club's first ever signings, Muscat was involved in Victory's Premiership and Championship-winning campaigns in 2006/07 and 2008/09, and won three Victory medals.
The ex-Caltex Socceroo retired in 2011 and stepped into an assistant coach role, eventually replacing Ange Postecoglou as head coach in October 2013.
He would then lead the team into battle 214 times across all competitions, winning the Premiership in 2014/15, the Championship in 2014/15 and 2017/18 and the FFA Cup title in 2015.
“This is not a decision made overnight or taken lightly,” Muscat said.
“I believe the time is right for me to refresh, and in time, seek a new opportunity after giving everything I’ve got emotionally and physically to Melbourne Victory over the last 14 years.
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“We have created and earned many great memories along the way including our eight trophies.
“It goes without saying that I will love and support this football club and wish it nothing but success.”
Di Petro said the hunt for Muscat's successor is already underway.
“Our priority will be to secure the right person as our next head coach who fits our criteria to take our Club forwards,” said Di Pietro.
“This is an opportunity to reset and shape the next phase of our club, and we view this as an exciting prospect.
“As I said on Friday, the one thing that will remain constant are the expectations we place on our club. We will not apologise for our relentless pursuit of success and this will remain at the forefront of our decision making.”