The club's owners are overseeing a major shake-up both on and off the pitch, with Levy the latest change to be made.
Former Arsenal chief Vinai Venkatesham has been named Spurs chief exec, whle Peter Charrington joined the board before being named chairman in the wake of Levy's exit.
It's suggested the changes have been made with the aim for Tottenham to target winning silverware more consistently after last season's Europa League success.
A source told the Mirror: "Generations of the Lewis family support this special football club and they want what the fans want – more wins more often.
"This is why you have seen recent changes, new leadership and a fresh approach. In Vinai, Thomas (Frank, manager) and Peter Charrington, they believe they are backing the right team to deliver on this. This is a new era."