Seen as a left-field appointment at the time, the ex-Vancouver Whitecaps boss’ record sits at just five wins in his 16 games in charge, with eight defeats and three draws giving him a win percentage of just over 30%.
Assistant head coach Kenny Miller will take the team on Saturday while Rennie will ‘assist in planning for next season and beyond.’
A club spokesperson said: “The Board of Falkirk FC can today confirm that Head Coach Martin Rennie has decided to return to the United States at the end of the season.
“Martin joined us in challenging circumstances last December, and we’d like to thank him for stabilising results and for all his hard work in trying to turn around what has been a very difficult season for everyone involved with the club.
“Kenny Miller will lead the team for the final three matches of this season, while Martin continues to support the Board in planning for next season and beyond.
“The process of recruiting a new manager has already begun and we hope to be able to announce an appointment as soon as possible.”
Speaking to the Herald, Rennie added: “The reason this has happened now is to help the club prepare properly for next year. Having a new coaching team come into a club late in the summer isn’t ideal but this will allow the club to have someone in place early on.
"I’ll be here for the final three matches supporting in the background and I really just want to thank everyone at the club for the support they have given me since joining.
"The supporters have really stuck by us considering the way results have gone and I want to thank them too for backing the squad during a difficult period.”