Brighton topped their group in the Europa League this season, defeating Ajax, Marseille, and AEK Athens before being eliminated in the final 16 by Roma.
They are currently tenth in the Premier League heading into their final game on Sunday and cannot finish any higher.
“I am sure our fans will give Roberto and his staff a wonderful and fully deserved send off at the Amex before, during and after tomorrow’s match,” Bloom added.
“In the meantime, I’d like to thank Roberto and his staff for all their hard work in the past two seasons. They all leave our club on good terms and with our very best wishes for the future.”
De Zerbi was appointed after Graham Potter left for Chelsea and Brighton have since sold the likes of Leandro Trossard, Alexis Mac Allister, Robert Sanchez and Moises Caicedo for a combined total of more than £200m.
“We have agreed to end my time at Brighton so that the club and I can continue to work in the way that suits each of us best, following our own ideas and visions, as well as our work and human values,” said De Zerbi.
“Leaving now provides me with time to take a break before deciding on my future plans.
“I am very sad to be leaving Brighton, but I am very proud of what my players and staff have achieved with the support of everyone at the club and our amazing fans in the past two historical seasons.”
Seven members of De Zerbi’s coaching staff will also leave but first-team coach Andrew Crofts and goalkeeper coach Stern will remain with the club.
Analysis by BBC Sport’s chief football news reporter Simon Stone
It included the following key quote about De Zerbi and the Brighton ‘model’.
“He understands what our limitations are. Behind the scenes, our model is very well known to him. We won’t break that model for anyone.”
The model has taken Brighton from the depths of the Football League and into Europe. Owner Tony Bloom is clear sighted and has a vision in which he sees the club as ‘top 10’ material. They may achieve that this season.
But Brighton is Bloom’s long-term project. Barber has just signed a contract to 2030.
Brighton are refusing to say what triggered today’s announcement but you only have to read their statement for the biggest clue.
“We have agreed to end my time at Brighton so that the club and I can continue to work in the way that suits each of us best, following our own ideas and visions.”
So, either De Zerbi has no faith in the project or, more likely, he is not convinced it will deliver on his aspirations quickly enough.
Burnley boss Vincent Kompany was linked with Brighton last month. Ipswich counterpart Kieran McKenna is bound to be on their radar. Interestingly, former Brighton boss Graham Potter has just turned down Ajax.
Don’t be surprised if Brighton have someone in place relatively quickly.
(BBC)