Manager Walter Mazzarri is to leave Watford after Sunday's final game of the season at home to Manchester City.
The 55-year-old Italian was in charge of the Hornets, who are 16th in the Premier League, for less than a year.
Watford chairman Scott Duxbury said Mazzarri's departure was confirmed after the board discussed "future goals and aspirations" with him.
"It was decided he will be stepping down from his position as the club's head coach," said Duxbury.
Watford's next manager will be their ninth in five years and the eighth since the Italian Pozzo family took over the club in 2012.