"We have reached an agreement to amicably end the contract with coach Jesualdo Ferreira and his assistants," the club said in a statement on Monday. "Braga thank professor Ferreira for his contribution to the club."
Braga, who reached the Europa League final in 2011, were held to a 2-2 draw at home by Arouca on Saturday and are seventh in the Portuguese league.
The 67-year-old Ferreira, who won three successive titles with Porto between 2007 and 2009, replaced Jose Peseiro in July for a second stint at the club where he was in charge 10 years ago.
Ferreira, the sixth coaching victim of the season, has been in charge of Portugal's big three of Benfica, Porto and Sporting as well as Alverca, Estrela Amadora, Boavista and the national under-21 team.
Abroad, he has coached FAR Rabat, Panathinaikos and Malaga.
- Sports & Recreation
- Jesualdo Ferreira