The former France and Paris Saint-Germain head coach took over at the Groupama Stadium from Peter Bosz in October 2022 but only managed 37 games before being given the boot.
With Blanc at the helm, Lyon laboured to a seventh-placed finish in the 2022-23 Ligue 1 season, missing out on European qualification by five points and finishing 11 behind Marseille in third.
Les Gones did progress as far as the semi-finals in last year's Coupe de France, but their hopes of glory came to an end with defeat to Nantes, and Blanc oversaw a disastrous start to the 2023-24 season.
With four games gone, Lyon sit at the bottom of the 18-team table with just one point to show for their efforts, having lost to Paris Saint-Germain, Montpellier HSC and Strasbourg, alongside a goalless stalemate with Nice.
After his side were humbled 4-1 at home by Montpellier, Blanc boldly stated that a managerial change may help to pull Lyon out of their rut, but he insisted that he was not pushing to leave his post.
Blanc remained in charge for the draw with Nice, but his side then fell to another 4-1 defeat in front of their own fans, as champions PSG ran riot at the Groupama Stadium before the international break.
Immediately after the final whistle blew in that game, a stone-faced Lyon troupe were dressed down by a member of their ultras supporters group, seemingly leaving Blanc's position hanging by the thinnest of threads.
As expected, Lyon have now parted ways with the 57-year-old and his coaching team, although the French outfit have stated that the decision was a mutual one rather than a club decision to sack him.
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