Setien, 61, was appointed in January after the club sacked two-time league winner Ernesto Valverde despite his side sitting top of the La Liga standings on goal difference.
But after Barca were condemned to their heaviest defeat in European competition on Friday, Setien was also sacked after only seven months in charge, after overseeing the club’s first trophy-less season in 12 years.
Barca finished second in La Liga behind champions Real Madrid and were knocked out of the Copa del Rey at the quarter-final stage by Athletic Bilbao.