Portugal manager Roberto Martinez said he was leaving his role after Spain beat his side, opens new tab 1-0 in the World Cup last 16 on Monday, calling the defeat the end of a cycle for the team.
The Spaniard said his contract expired on Monday and that Portugal's football leadership should now choose a new manager.
"I came to Portugal to win the World Cup and I think that, without winning it, there's no point in continuing," Martinez told a press conference after the match.
"The board and the president now have the opportunity to choose the new manager... my contract ends today. There isn't much more to say."
Martinez said there had been no final decision before the tournament but confirmed the Spain defeat was his last match in charge.
"Yes, it's my last game for the national team," he said. "I'm very proud... I've felt welcomed as just another Portuguese person, in a very warm way. It's been a pleasure, a source of pride and a responsibility."
Portugal's exit is also expected to bring down the curtain on Cristiano Ronaldo's long international career. Martinez avoided going further on the 41-year-old's future but offered a glowing farewell to his captain.
"A word of thanks, because he was an exemplary captain," Martinez said. "Not just in terms of goals – the statistics speak for themselves – but also in terms of assists.
"It's his day-to-day commitment, the way he lives and breathes football. He's an example and something we must celebrate."
Martinez said Portugal had stood up to one of the tournament favourites but were undone by fine margins.
"We showed courage in defence, we were aggressive, and we defended very well," he said. "But in the World Cup round of 16, it's the small details that matter.
"The ball hitting the bar and going in or not, a chance in the 90th minute from a quick free kick. Details that make all the difference."