Jose Pekerman departs role as Venezuela manager
The decision comes ahead of Venezuela's friendly matches later this month against Saudi Arabia and Uzbekistan.
The FVF did not expand on the reasons for the Argentine coach's dismissal in a short statement shared on Twitter.
Pekerman failed to lead the nation to the World Cup in Qatar last year, finishing bottom of South American qualifying.
"It's essential for the FVF that all those involved in our team share the highest standards of commitment and delivery," the statement said.
Pekerman previously coached Colombia from 2012 to 2018, resigning after the team were knocked out by England via a penalty shootout in the last 16 of the 2018 World Cup.
Venezuela have never qualified for the World Cup finals.