The International Ice Hockey Federation said Russia is looking for a new coach before the world championship in May in Belarus.
The IIHF said Russian hockey federation officials agreed to Bilyaletdinovís departure after meeting with him on Wednesday.
Russia lost 3-1 to Finland to miss out on an Olympic medal, which was among the nationís top priorities at the Sochi Games.
Bilyaletdinov was appointed in June 2011 and led the team to a world championship the following year.
As a player for the Soviet Union, he won gold at the 1984 Sarajevo Olympics and silver in 1980 at Lake Placid.
More Sports Headlines
U.S. heads to World Cup final with 2-0 win over Germany M's rookie Montgomery tosses 1-hitter in 5-0 win over Padres 'The kids' who brought pro baseball to Everett Alex Jackson's HR carries AquaSox to 5-3 win Bird, Storm defeat Tulsa 74-69 Silvertips add pair of Russians in CHL import draft M’s notebook: Cruz turns down Home Run Derby Japan faces upstart England in World Cup semifinal
Our new comment system is not supported in IE 7. Please upgrade your browser here.