Nerazzurri technical director Marco Branca is understood to have telephoned the tactician on Thursday, informing him of the club’s decision.
Stramaccioni, who was only hired in March 2012, was contracted to the Stadio Giuseppe Meazza outfit until 2015.
Inter are now trying to get Stramaccioni to accept a severance package in order to not continue paying him for the next two years.
Stramaccioni is set to be replaced by Walter Mazzarri after he confirmed last weekend that he would not be staying at Napoli.
The former Nerazzurri youth team boss won 31 games, drew 11 and lost 23 during his time on the Beneamata bench.
Inter finished this season in ninth after they lost 16 League games.
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