The 30-year-old Kazakh rider, who returned the positive sample on the opening stage of the race, has admitted to using the banned substance.
The admission and sacking came after cycling's world governing body, the International Cycling Union (UCI), had provisionally suspended the rider.
"Following the announcement by the Union Cycliste Internationale of a positive anti-doping test result for Valentin Iglinskiy during the recent Eneco Tour, management at Astana Pro Team have taken direct and immediate action to release the rider from his contract," the team said in a statement.
"Valentin has admitted to using prohibited substances on his own initiative and independently, without any consultation from the Astana Pro Team staff.
"In its wish for full transparency, Astana Pro Team has refused to defend a rider who failed to respect the rules and ethics as stipulated in his contract and who has failed to behave in a manner consistent with other riders in his team and within professional cycling."
Iglinskiy is a two-time winner of the Tour of Hainan (2010/2011) and finished 4th at the 2014 Kazakhstan National Road Race Championships
UCI Statement on Valentin Iglinskiy
The Union Cycliste Internationale (UCI) announces that it has notified Kazakh rider Valentin Iglinskiy for an Adverse Analytical Finding of EPO in a sample collected in the scope of the 2014 Eneco Tour on 11 August 2014.
The rider has the right to request and attend the analysis of the B sample.
In accordance with UCI Anti-doping Rules, the rider has been provisionally suspended until the adjudication of the affair.
At this stage of the procedure, the UCI will not comment any further.