Davy Fitzgerald has told the Waterford county board that he will not be seeking another term as manager of the hurling team.
The former Clare goalkeeper took up the position in June of 2008 and led Waterford to the All-Ireland final in the same year.
This season Waterford were beaten by 21 points in the Munster final by Tipperary.
They regrouped to record a 10-point win over Galway in the quarter-finals before losing 2-19 to 1-16 in the semi-final to eventual All-Ireland champions Kilkenny.
A subcommittee of the county board will now be set up to look for a new manager.