The former European Footballer of the Year, who turns 50 next month, joined the Dutch club on a two-year deal at the start of the season but has been on a leave of absence due to stress.
He was given time off by the club and missed their last match before the club extended by two weeks his time away from the game. AZ have not given any details of Van Basten's problems but Dutch media reported that he had been suffering from heart palpitations since the death of his father in July.
Van Basten’s coaching career began with Ajax Amsterdam's reserves in 2003 but a year later he was named Netherlands coach, staying from 2004-2008, and then spent one year at Ajax.
He did not work for three years until joining Heerenveen in 2012, spending two seasons there before moving to AZ.
His assistant Alex Pastoor is expected to be named replacement, the media reports added.
(Reporting by Mark Gleeson; Editing by Amlan Chakraborty)
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