Nicola took charge of Cagliari in July, replacing Claudio Ranieri, and signed a two-year contract, but will move on after guiding his team to 15th in the standings, five points above the relegation zone.
"The club would like to thank coach Nicola and his staff for the work, seriousness and passion shown in this season that culminated with our stay in the top flight," the club said in a statement.
Nicola has made a name for himself as an expert in relegation survival, having kept clubs including Empoli, Salernitana, Torino and Genoa in Italy's top flight.
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