Ranieri offered his resignation last night after his side surrendered a three-goal lead to lose 4-3 at Genoa, and the club today confirmed it had been accepted.

Roma are eighth in the Serie A standings – nine points behind city rivals Lazio, who hold the last Champions League qualifying spot.

Roma said in a statement: ``Roma announces it has entrusted today Vincenzo Montella to guide the first team until the end of the sporting season.

“We are certain that with his enthusiasm and dedication he will be able to lend the team his quality, professionalism and experience.”

The 36-year-old played for Roma from 1999 until 2007 and was a member of the title-winning side 10 years ago.

Montella – who, like former Lazio and Inter Milan coach Roberto Mancini when he got into coaching, does not have his coaching badges – will train the team this afternoon and make his Serie A coaching debut at Bologna on Wednesday.

Roma earlier thanked Ranieri for his efforts after confirming they had parted company with the 59-year-old.

They said in a statement at lunchtime: “AS Roma announces it received yesterday evening the resignation of Mr Claudio Ranieri as coach of the first team.

“Following this move, the financial contract with Ranieri, whose deal was coming to an end on June 30, 2011, has ended by mutual consent.

“Roma wishes to thank Claudio Ranieri for the professionalism shown and the work done.”

Ranieri was seen as a saviour by Roma fans after replacing Luciano Spalletti in September 2009.

The club had endured an horrendous start to the campaign and Ranieri, who had been fired by Juventus months earlier, rescued the team and nearly led them to the Scudetto.

Roma finished runners-up in both Serie A and the Coppa Italia to Inter Milan last season.

Ranieri had expressed disappointment that the club failed to sign any players in the winter transfer market, with the Giallorossi competing in the Champions League, Serie A and Coppa Italia.

Roma were reluctant to spend money with the club up for sale and Ranieri, despite his terrific performance last season, had yet to be offered a contract extension.

Italy coach Cesare Prandelli labelled Ranieri’s resignation “an act of great responsibility and dignity”.

He added: “I don’t know the dynamics of the team so I cannot enter into specifics.

“But we all remember last year’s Roma that managed to keep up with Inter until the end of the season.

“The Italian league is very difficult and you have to have the right mentality and continuity in form to do well.

“I think that when something breaks, the responsibility is not just of one person.”

Roma conceded 14 goals in their last four games under Ranieri.

Under the guidance of Montella, they visit Bologna on Wednesday before hosting Parma this weekend, and also have a major hurdle to clear in the return leg of their Champions League last-16 tie on March 8 as they look to overturn a 3-2 deficit at Shakhtar Donetsk.