Vasco announced the decision at a press conference on Monday, less than a day after their 3-0 loss to Bahia, reports Xinhua news agency.
Brazilian media reported that former Flamengo coach Ze Ricardo is the favourite to replace Mendes.
"The club's interests need to come before anything else and for that reason it's best that (Mendes) leaves us," Vasco president Eurico Miranda told reporters.
Mendes, who sat beside Miranda during the announcement, said: "I had five happy months here and I'll leave with more friends than I had when I arrived."
Vasco, four-time winners of Brazil's top division, were relegated for the first time in their history in 2008 and suffered the same fate in 2013 and 2015.
Sunday's result left them at 16th spot in the 20-team standings, just two points above the drop zone with 17 games remaining.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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