The East of Scotland League club is advertising for a replacement, setting a deadline of 5pm on Sunday, after announcing the decision in a statement.
The Prestonpans side were in contention for the First Division Conference B title up until the last day of the season, but ultimately finished one point behind behind champions Oakley and runners-up Glenrothes in third place. It meant they missed out on promotion to the Premier Division for 2022/23 and will instead compete in the new First Division, tier seven in the pyramid.
The club statement read: “Preston Athletic can confirm we have parted company with first team manager Jack Lynch. A sustained period of consideration has led to this decision and it is felt, with all things taken into account, the club needs to make the change. with regards to the role of first-team manager.
“The club would like to thanks Jack for all his efforts and commitment during his tenure and wish him the very best for the future.”
Meanwhile, Preston goalkeeper Craig Pennycuick has announced that he is leaving the club after ten years.