However, Conte - who has been known to clash with club owners and boards - reportedly fell out with Inter’s hierarchy, and leaves just three days after Inter lifted the Serie A title.
A club statement read: “FC Internazionale Milano can confirm that an agreement has been reached with Antonio Conte for the termination of his contract by mutual consent.
“The Club would like to thank Antonio for the extraordinary work that he has done, culminating in Inter’s 19th top-flight title.
“Antonio Conte will forever remain a part of our Club’s history.”
Conte’s exit will fuel speculation regarding a number of high-profile roles around Europe.
Tottenham are currently searching for a new full-time manager following Jose Mourinho’s sacking, while the fate of Zinedine Zidane at Real Madrid is uncertain after city rivals Atletico pipped them to the Spanish title.
A return to Juventus could also be on the cards, with Andrea Pirlo’s position in doubt after the Bianconeri only just scraped Champions League qualification on the final day of a disappointing campaign.