The news came despite the 59-year-old leading Lille to a third-place finish in the league, which guaranteed them Champions League football next season.
"Having arrived in June 2024, Bruno Genesio has guided the club with talent, commitment, and performance over two seasons marked by fine collective achievements," Lille said in a statement.
That, the club said, included, "two appearances in European competitions, memorable victories in the UEFA Champions League, and a third-place finish in Ligue 1 secured on May 17th at the conclusion of the 2025–26 season".
Lille added: "Bruno will remain a key figure who has left a positive mark on the club's history and who deserves great respect.
"LOSC and their president warmly extend to Bruno Genesio their best wishes for his future projects and every success in the rest of his career."