MADRID -- Real Madrid confirmed the exit of coach Álvaro Arbeloa on Tuesday, setting up the return of José Mourinho.
Club president Florentino Pérez had vowed to bring Mourinho back as part of his campaign promises that led to his re-election on Sunday.
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Mourinho, who was featured in promotional material for Pérez during the campaign, would be back for a second stint at Madrid. He coached the club from 2010-2013.
ESPN reported last month that Mourinho had agreed a two-year-deal with Madrid.
On Tuesday evening, Benfica announced that Mourinho would be leaving the Portuguese club.
Benfica said that Real Madrid had formally expressed their intention to hire the coach and pay €15 million ($17m) to terminate his contract at the Estádio da Luz, adding that Mourinho had given his agreement to Madrid.
Arbeloa's departure was already expected and he had talked about it at the end of the season.
Madrid said Tuesday it was "deeply grateful" to Arbeloa, "who throughout his career at the club, from the time he joined our academy, has always demonstrated loyalty, commitment, and professionalism."
Arbeloa took over the helm in January to replace Xabi Alonso amid the team's struggles.
Arbeloa was not able to put Madrid back on track and the club endured a second straight season without a major trophy.
Last month, Arbeloa gave his blessing to former boss Mourinho's return to Madrid, saying he would "be happy to see him back home."
Arbeloa played for Madrid when Mourinho was in charge of the club -- a tumultuous time in which Madrid won Spanish league and Copa del Rey titles but was overshadowed by Pep Guardiola's great Barcelona side. Mourinho's abrasive attitude to opponents like Guardiola as well as some of his own players turned off many in Spain. He also had his faithful backers, like Arbeloa and some hardcore fans.
Arbeloa saw Madrid struggle toward the end of the season and watched some of his players get into altercations during training. The team was eliminated by Bayern Munich in the Champions League and couldn't catch up with Barcelona in LaLiga.
Former Fulham boss Marco Silva was announced as Mourinho's replacement at Benfica.
The Associated Press contributed to this report.