Barcelona finished the season without a major trophy for the first time since 2007-08.
Martino, 51, said: "I'm sorry I was unable to deliver. I'd like to thank the club for their confidence in me."
Martino replaced Tito Vilanova in July last year, signing a two-year contract at the Nou Camp club.
"I deeply regret not having achieved the goals that this club has always been set and achieved," Martino added.
"These are great players. My greatest gratitude goes to the players. They have made me proud."
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