The Italian manager failed to capitalize on his club's incredible financial backing this season as his side fell short in every competition.
Further, Mancini's numerous run-ins with high-profile players such as Carlos Tevez, Mario Balotelli and Joe Hart all but assured his dismissal.
So what's next for the manager?
With so many big jobs set to change hands this summer, it seems likely that Mancini will find a way to be coaching again come August.
Here are the top four possible destinations to expect to see Roberto Mancini landing this summer.
Mancini could be going from one big money club to another if he were to end up at Paris Saint-Germain.
Should he get the job in the French capital, Mancini would have another opportunity to work with a seemingly unlimited bankroll and attempt to buy the best side possible.
Over the past few seasons, Napoli have been on a good run of form under manager Walter Mazzarri, making a good run in the 2011-12 Champions League and qualifying for next season's Champions League by finishing second in this season's Serie A campaign.
With Mazzarri's future in doubt, though, Napoli could be looking for a new manager.
As Mancini has been targeting Napoli's superstar striker Edinson Cavani recently, the post gives him a chance to persuade the Uruguayan to stay and work with him.
It also gives Mancini the opportunity to return to his home nation and have another go at managing in Serie A.
After winning the Champions League a mere three years ago, Inter Milan are in some turmoil.
The Italians failed to secure European football for next season, putting manager Andrea Stramaccioni's job in serious doubt.
With plenty of young talent and a good chance to rebuild, Mancini could see an opportunity to rebuild the club where he established his credentials as a coach.
The biggest factor standing in the way of the move, though, would be his fractured relationship with president Massimo Moratti.
Should they be able to reconcile, though, this would be a good match.
AS Monaco have booked their path back to the top flight of French football under manager, Claudio Ranieri.
However, the French club has been fond of Mancini for quite some time and a link between them and the ex-City manager surfaced almost immediately after his sacking.
With massive amounts of money to spend and the possibility of striker Radamel Falcao joining the ranks this summer, the job could be very enticing.
For Mancini, it could represent a new challenge and a chance to build another club's former prestige.
Don't be surprised to see Roberto Mancini in Monaco next season.