Vasseur has vacated his position by mutual consent after helping Renault during their first season back in Formula One as a constructor.
Renault confirmed Vasseur's departure in a statement although they have not ruled out working with him again in the future.
“Renault have announced that Frederic Vasseur is leaving his role as team principal with immediate effect,” the statement read. “After a first season spent relaunching and rebuilding its works F1 squad, Renault and Vasseur have agreed by mutual consent to part company as of today.
“Both parties remain committed to maintaining the good working relationship they have enjoyed and expect this to take a new form sometime in the future.”
Renault's car launch for the 2017 season is due to take place on February 21, with the team also confirming Jerome Stoll and Cyril Abiteboul will oversee proceedings until a successor for Vasseur is appointed.