Former England captain Andrew Strauss was appointed as the ECB's new director of cricket earlier on Saturday.
“Peter is a man of great integrity and has offered a huge amount to England cricket," ECB managing director Tom Harrison said in a statement.
“He is admired by the players, his colleagues at the ECB and right across the game and deserves both our deep thanks and the widest recognition for his commitment and contribution.
"The last year has been a period of transition and rebuilding in which Peter has nurtured new talent, developed new players and laid the foundations for the new coaching structure to build on.
“This decision has been made as we focus on the future and our need to build the right approach and deliver success over the next five years within a new performance structure.”
Moores, 52, was appointed England coach for the second time a year ago but has experienced a difficult reign which ended with a dismal performance at this year's World Cup and a 1-1 draw in a test series in West Indies.
“At the moment it’s difficult to put into words how I feel except to say how disappointed I am in the way my term as England coach has ended," Moores said.
"I will walk away knowing I’ve given my all to the role and always put the team at the front of any decision-making.
“I believe time will show that I have been instrumental in the identification and development of a new group of England players who will go on and bring honour and success to the England badge.
"I am a passionate Englishman who believes in hard work and an investment in the right people will bring its rewards.”
Moores previously coached England from 2007-09 before being sacked following a fall-out with then captain Kevin Pietersen.
“I knew when I took on the role that this was going to be a tough period for English cricket and I would need time and support to get new players through," Moores added.
"My frustration is not being given that time."
England assistant coach Paul Farbrace will take charge of the team for the two-test series against New Zealand starting on May 21.
England host Australia in a five-test Ashes series which begins on July 8.
(Editing by Ken Ferris)
