Hierro has chose to "seek new horizons", according to the Spanish football federation (RFEF).
"The RFEF wants to thank Fernando Hierro for his compromise and sense of duty when taking the reigns of the national team under extraordinary circumstances, as well as performing all his duties".
According a UK Sun report, the Real Madrid legend who took over the position just before the ongoing world Cup in Russian Federation, has also distanced himself from his former job as sports director.
They finished top of Group B but suffered a shock elimination by hosts Russian Federation in the last 16 last Sunday in a penalty shoot-out after a 1-1 draw.
"The federation wants to highlight the professional and personal values of an extraordinary athlete, and we wish him the best".
"Thanks for everything, Fernando!" the statement from Spanish Football Federation's official website read in part.
Spain had a horrendous World Cup as far as their expectations go and it led to the inevitable resigning of stand in manager Fernando Hierro but now they have their targets set on their new man.
Interestingly, the 50-year-old Hierro was handed the managerial position after ex-boss Lopetetgui quit the role to join the Los Blancos as new manager.
Lopetegui was sacked two days before their opening World Cup match with Portugal after he was named Real Madrid boss.
In Russia, Spain topped Group B under Hierro.
Now Marca are reporting that Spanish FA president Luis Rubiales will recommend Luis Enrique at a board meeting today.
Julen Lopetegui was relieved of his post after he was announced as Real Madrid's new manager, which the Spanish FA did not take kindly.
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