Conceicao had recently extended his contract but the arrival of former Chelsea and Tottenham Hotspur manager Andre Villas-Boas as club president precipitated his departure.

Conceicao, 49, could be set to join French club Marseille with his deputy Vitor Bruno touted as his possible replacement as Porto boss, according to media reports.

Under Conceicao, Porto won 11 trophies including the Portuguese Cup last month with a 2-1 win over Sporting Lisbon and three league titles in 2018, 2020 and 2022.

But things soured in his last campaign with Porto finishing third in the league -- 18 points behind champions Sporting Lisbon.

A former Portuguese international winger, Conceicao began his playing career at Porto 30 years ago and also played in Italy with Lazio, Parma and Inter Milan.

He retired from playing at Greek club PAOK in 2010, and started his coaching career as an assistant at Belgian club Standard Liege, with spells at various clubs, including Nantes in France, before joining Porto in 2017.