The former England boss, 70, saw his side beaten by South Korea, China and Kyrgyzstan to finish bottom of Group C.
Philippines team manager Dan Palami confirmed: "Coach Sven's engagement ends in this tournament.
“The thing for me as a manager, I felt that we had actually a chance to get out of the group.
“Maybe there were some other things that the management or the coaching staff could have done in order for us to get out of it, but we have to accept the result.
“We’re happy and privileged to be part of this tournament, but we want to make sure that this won’t be the last time we join this tournament.
“Our Under-22, Under-23 and senior teams will progress even further in the coming years.”
Scott Cooper will take over the team, who were playing at their first ever Asian Cup.
Eriksson is now being linked with a move to Australia's A-league, with the veteran tactician showing no signs of retiring.
The Brisbane Roar hot seat is open and the Swede is among the names believed to have put themselves forward.
Ex-England striker Robbie Fowler is also in the hat for the role.
Source: Read Full Article