Gerardo Martino has left his position as the head coach of Paraguay after guiding La Albirroja to the World Cup quarter-finals.
The Argentine coach announced to the media that his four-year contract had expired but promised fans that he would assist with the transition to a new coach after thousands of people greeted their heroes as they arrived back in the capital, Asuncion.
The 47-year-old said that he had job offers back in Argentina, Saudi Arabia and Mexico.
"My four-year contract is up," Martino said. "But I will stay around a bit longer to organise things."
Meanwhile, striker Roque Santa Cruz has said that the tournament in South Africa would be his last World Cup.
"This is my last World Cup," the Manchester City forward said. "My soul wants to continue, but by my body says no."
Santa Cruz admitted he might play in the Copa America next year, which will be played in Argentina.
"It could be my going away present," he said.
President Fernando Lugo awarded the squad medals for meritorious service to sports upon their arrival.