Paratici is set to depart the North London side and join Fiorentina at the end of the transfer window, three months after returning to the north London club.
Confirming his exit, Tottenham chief executive, Vinai Venkatesham, said: “We have agreed that Fabio will return to Italy following the conclusion of the January transfer window, in line with his wish to move back home. We thank Fabio for his contribution to the club and wish him well for the future.
"Our management structure is designed to be resilient to personnel changes, and it will be business as usual moving forward."
He will sign as the new Fiorentina Head of Football from February 4th in what is a shock move for fans who hoped to see him working with the club for years to come.
Paratici waves goodbye
Paratici spoke to the club website about his departure and admitted that he loved every second in his short time at Spurs:
“I want to thank Vinai and the Board of Tottenham Hotspur for accommodating my desire to return to Italy and join Fiorentina.
“I have loved my time at the Club, however this opportunity, together with the need to be based in my homeland, has led me to this decision.
“Spurs is a club that is very close to my heart. It has great people working for it, who are as passionate about the project as I am and want to bring sustained success. I have no doubt that they will achieve that and I will be watching closely from Italy.”
He will join striker Manor Solomon who is loan from Tottenham at Fiorentina until the end of the current season after his unsuccessful loan at Villarreal .