The club confirmed they have parted company with the Dutchman after a nightmare start to the season.
Everton have won just two league games and lost five after spending almost £140m in the summer.
A statement from the club said: “Everton Football Club can confirm that Ronald Koeman has left the club.
Chairman Bill Kenwright, the board of directors and major shareholder Farhad Moshiri would all like to express their gratitude to Ronald for the service he has given to the club over the past 16 months and for guiding the Club to seventh place in last season’s Premier League campaign.”
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