Valencia president Layhoon Chan has formally announced the departure of Nuno.
Nuno left Valencia after Sunday's defeat to Sevilla.
Chan stated: "I wish to announce that Nuno EspÃrito Santo has stepped down as head coach of Valencia Club de Fútbol by mutual consent. We all agree that it is in best interests of the club that we begin a new era.
"We thank Nuno and his personnel for their contribution over the past 18 months and wish them the best.
"Our top priority is to search for a new head coach. During this period we have designated Salvador González -'Voro'- as our provisional head coach. He will be supported by Phil Neville and our coaching staff, pending the appointment of a new coach. I had a good meeting with the players this morning, and they continue to be committed to the club, especially during this difficult moment."
Source: tribalfootball.com