The former centre-back was appointed at Moss Rose in November 2018, with the Silkmen bottom of League Two and five points clear of safety.
However Campbell's arrival sparked a revival in fortunes and they eventually finished in 22nd place, three points clear of the drop zone.
Despite his successful work at the club, Campbell and Macclesfield have now chosen to part ways by mutual consent.
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"Macclesfield Town can confirm that after eight months with the club and successfully leading us to League Two safety last season, we have mutually agreed to part ways with manager Sol Campbell," a club statement read.
"This has been conducted in the most amicable of ways and there has been total transparency between the club and Sol regarding the challenges which face lower league clubs such as Macclesfield Town.
"We have a very competitive squad in place, as demonstrated by our opening games of the new season and this certainly bodes well for the future."
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