WASHINGTON, August 25, 2014 (AFP) - "I'd like to thank Sean for his help as my coach and for his friendship," Woods said in announcing the move.
"Presently, I do not have a coach, and there is no timetable for hiring one," added Woods, who has been hindered by injury throughout the 2014 season.
The 38-year-old missed the cut at the PGA Championship this month, a week after withdrawing from the World Golf Championships event in Akron, Ohio, with similar trouble.
He missed the Masters and US Open while recovering from March 31 back surgery, and finished joint 69th at the British Open.
Woods has ruled himself out of contention for a Ryder Cup berth, saying he won't return to competition until his unofficial World Challenge event in December.
"Sean is one of the outstanding coaches in golf today, and I know he will continue to be successful with the players working with him," Woods said. "With my next tournament not until my World Challenge event at Isleworth in Orlando, this is the right time to end our professional relationship."
Woods had worked with Foley for four years, and under Foley's guidance reworked his swing in a way designed in part to reduce stress and punishment on his surgically repaired knees.
Foley was Woods' third coach, the US star working with Butch Harmon from 1993-2003 and Hank Haney from 2004-2010.
He began working publicly with Foley at the US PGA Championship in 2010 and in the period they worked together won eight US PGA Tour titles.
However, Woods' pursuit of Jack Nicklaus' record of 18 major titles has remained stalled, and he has battled a new spate of injuries.
Woods did not give any reason for the split with Foley, who also weighed in on his time working with the American star.
"My time spent with Tiger is one of the highlights of my career so far, and I am appreciative of the many experiences we shared together," Foley said.
"It was a lifelong ambition of mine to teach the best player of all time in our sport. I am both grateful for the things we had the opportunity to learn from one another, as well as the enduring friendship we have built. I have nothing but respect and admiration for him."