Zidane confirmed his departure at the start of the news briefing, just five days after he presided over the 3-1 Champions League final win over Liverpool.
MORE TO READ: OFFICIAL: Zinedine Zidane leaves Real Madrid after winning three straight UCL titles
"I have decided not to be Real Madrid coach next season," said Zidane, who was joined by club president Florentino Perez.
"I spoke to Florentino yesterday [Wednesday] to tell him my thoughts, my feelings. I know it's a strange moment for everyone involved, but I think it's the right decision.
"I think this team needs to keep winning but I think after three years a change is needed, something different, a different message, different ways of going about things.
"That's why I decided to take this decision. It's a club I love and I love the president too, he brought me to this huge club and I will always be grateful, but I think a change is needed so I will not be here next season."
Even European success, which he also managed in each of his first two seasons in charge of the team, has not been enough to persuade him to prolong his spell.
Madrid's third-place La Liga finish is likely the major factor in Zidane's departure, as Los Blancos ended the season 17 points adrift of bitter rivals and champions Barcelona.
He did, however, confirm that he was not pushed out of the exit door.
"It's my decision," he said. "For many people, this will not make sense, but it does for me. It's time for a change.
"There have been tough times, in the Copa del Rey notably, and I don’t forget those. This club is in my heart. It ended well for me when I was a player and it’s ended well for me as a manager."
Zidane was appointed as Real Madrid boss in January 2016 and took charge of Madrid 149 times. He won 105 of those games, and as well as three Champions League titles, he also enjoyed success in La Liga in 2016-17.
Kalata
186
It makes sense indeed. Legends know when to quit
raheem_CFC
156
You'll be missed zidane, this was a sudden blow you put on the world and fans, but a change is needed in your eyes and I'll support you in everything you do. all the best in the rest of your fight and we'll continue to follow you
hazardous_Reigns
117
footballs greatest Teams you've beaten footballs greatest Coach you are footballs greatest players you're coached. merci legend
Victadrid
108
I woke up this morning, not thinking that I'll be writing this piece about the exit of the greatest player-coach in Real Madrid history. Just yesterday, I was imagining our team for next season: the recruits and exits that will define this transfer season, little did I know that the first exit would be one, most difficult to swallow; the very glue that has made Los Merengues the envy of Europe. This feels more like a Eulogy in a requiem Mass than a good bye, it seems as though the club has lost a treasured soul to the cold hands of death.. However, this is football and it comes with unimaginable uncertainties.. The two and a half years under your leadership felt like a century, an eternal dynasty that will be talked about for eons. Many like me would even trade the Decimotercera for another season under your tutelage, sadly, that will not be the case. Your reign will live long in our memories, stories will be told of the famous bald white head and the Bernabeu will always be your home - as you showed with your return in 2016. Most Importantly, the joy and passion that you've reignited in us, Madridistas will fuel our fight in the new phase we enter, whatever lies in wait for us. Adios Sir Zizou.. Hasta la vista!
Space_Man
75
Just came on All football and see Zidane resigns update and think it's a joke. I don't think every Madridstas saw that one coming, I'm surprise myself. Man, he's departure is totally weird. But he'll be remembered for his achievements. That's how to leave as a manager, 3 consecutive UCL title, can't get any better than that! Still, It's totally strange he left. It's so unreal.
rmcfc9
60
3 champions league in 3 years and you re saying there needs to be change?! as a fan I'm so dissapointed because we won't ever be as dominant in Europe again without zidane
ARCHITCR7at1
50
We will miss you legend..[Cry][Cry][Cry]