The Spaniard guided Dnipro to second place in the Ukrainian Premier League this season, their highest ever finish, and into the last 32 in the UEFA Europa League.
However, Ramos turned down a new deal owing to family reasons and the growing political unrest within Ukraine.
In a statement released on Thursday, Dnipro confirmed that the former Sevilla, Tottenham and Real Madrid boss would not be in charge next season, and thanked the 59-year-old for his work since arriving in 2010.
"Juande Ramos, who worked the head coach of Dnipro the last four years, will not sign a new contract with our club," it read.
"At the end of the season 2013-14 he was made an offer on a new agreement, and after some hesitation he refused, citing the decision of the reluctance of his family to stay in Ukraine for a long time.
"Dnipro thanks Juande Ramos for the fruitful cooperation and wishes him luck in his future career.
"Under his leadership, our team showed a beautiful bright football, delighting fans; greatest achievement was winning silver medals of the championship of Ukraine and the opportunity to play in the Champions League qualification."
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