Page was initially given the role on an interim basis in November 2020 before being handed the role permanently in September 2022.
He led Wales to their first World Cup in 64 years but failed to qualify for Euro 2024 in Germany after losing the play-off final on penalties to Poland.
A poor recent set of results followed, including a friendly draw against 203rd-ranked Gibraltar and a thrashing to Slovakia led to a review from the Football Association of Wales (FAW), who decided a change was needed.
FAW chief executive Noel Mooney said: "On behalf of myself and the entire FAW, I extend our heartfelt gratitude to Rob for his commitment and dedication to his roles for the national teams.
"Under Rob Page's leadership, our Cymru men's team has achieved significant milestones and victories which have created many incredible memories for our nation, most notably our first World Cup in 64 years."
Dave Adams, the FAW's chief football officer said: "I would like to thank Rob for his work with the association over the last seven years, firstly as the under-21s head coach and then onto the role of Cymru (Wales) head coach."
Page managed 45 games in total for Wales, winning 15, drawing 15 and losing 15.
Wales' next fixture is in their Nations League opener against Turkey on September 6th before playing Montenegro.
