The Italian succeeded Mauro Milanese as manager in December and was unable to prevent the club’s relegation 12 months after they were losing play-off finalists at Wembley.
Liverani, Maurizio Cantarelli and Marcello Donatelli are all departing “by mutual consent”, according to a club statement that read: “We would like to thank Fabio, Maurizio and Marcello for their efforts this season, and we wish them all the best for the future.
“The club will now focus on rebuilding for next season in the hope that we can make a swift return to League One.
“We do not underestimate the challenge that we will face in the coming season, but the players and staff will work together to achieve the success that our loyal fans deserve.”
Liverani’s departure is the latest significant change in a year of upheaval that has seen Barry Hearn sell up to Italian businessman Francesco Becchetti and a number of managerial changes.
Russell Slade left for Cardiff in September before interim boss Kevin Nugent was replaced by Milanese, the sporting director who then reverted to his previous role when Liverani was appointed. Milanese left the club in January.
Meanwhile, Leyton Orient have confirmed the club’s players are continuing to train as normal after it emerged on Monday that they were undertaking double sessions for three weeks following the end of the season.