Koeman confirmed his decision in a statement posted on Instagram less than 24 hours after the Dutch were eliminated on penalties following a dramatic 1-1 draw in Monterrey.

"Last night I took the decision to end my stint as head coach of the Dutch National Team," Koeman wrote.

"We all shared the dream of making history at this World Cup, but we fell short. No one is more disappointed by that than I am.

"As head coach, the responsibility ultimately rests with me."

The Netherlands had been widely expected to challenge for the latter stages of the tournament but were denied victory in heartbreaking fashion after conceding a stoppage-time equaliser.

Cody Gakpo's goal looked set to send the Dutch through before Issa Diop struck deep into added time to force extra time.

With neither side able to find a winner, Morocco prevailed 3-2 in the penalty shootout to secure a famous place in the Round of 16 and bring Koeman's second spell in charge of the national team to an end.

The 63-year-old departs after overseeing another disappointing World Cup campaign for the Netherlands, who failed to fulfil their pre-tournament expectations despite arriving as one of Europe's leading contenders.

Subscribe to beIN SPORTS!