Carlo Ancelotti has left Everton and rejoined Real Madrid as coach for a second spell.
Ancelotti, who won the Champions League for Real Madrid during his first spell at the club between 2013 and 2015, will sign his contract and be presented to the media on Wednesday, the club said in a statement.
He succeeds Zinedine Zidane at Real and the move leaves Everton searching for a sixth permanent manager in five years.
Ancelotti has signed a three-year deal at Real and said the move represented “an unexpected opportunity”.
He added: “I have complete respect for everyone associated with Everton and hope they can achieve the exciting opportunities they have in front of them.
“While I have enjoyed being at Everton I have been presented with an unexpected opportunity which I believe is the right move for me and my family at this time.”
Real will present Ancelotti to the media on Wednesday, while Everton said they “will begin the process of appointing a new manager immediately”.
Ancelotti was under contract until 2024 with Everton, but the Italian, whose wife is of Spanish origin has always said he enjoys life in Madrid.
He will be reunited with Austrian defender David Alaba, who played for Ancelotti at Bayern Munich, and is joining Real on a five-year contract.
Ancelotti made history in his first spell at Real by winning the Champions League, after a 12-year gap.