The Manchester United legend sensationally tendered his resignation at Oldham on Thursday night following a series of broken promises from the owner Abdallah Lemsagam.
It brings to an end his 31-day tenure at the helm of the club he supported as a boy alongside his father before his career as a footballer took off.
A statement released by Scholes said: "It is with great regret that I have made a decision to leave the club with immediate effect".More news: Malcom Brown signs three-year, $15 million deal with New Orleans
"I hoped to at the very least, see out my initial term of 18 months as the manager of a club I've supported all my life", he said.
"The fans, players, my friends and family all knew how proud + excited I was to take this role".
Scholes resigned as a club director at Salford before joining the Latics who are 14th in the League Two table.More news: FIRST ALERT WEATHER DAY: Severe storms possible this afternoon & evening
Another fan wrote (tongue in cheek, mind): 'Luckily for Paul Scholes, Jose Mourinho is not the type to remember everything he said about him during his time at Manchester United then bring up his subsequent short stint at Oldham Athletic when the opportunity arises.
The 44-year-old took over on 11 February and was in charge for just seven games, winning only one. We wish him well and thank him for his contribution.
Scholes, who has worked as a television pundit in recent years, was the latest from England's so-called "Golden Generation of players to move into management, following Frank Lampard at Derby County and Steven Gerrard at Rangers".More news: OKC Thunder blow 19 point lead, lose to IN 108-106
Oldham are yet to confirm his departure from Boundary Park and are due to visit Exeter City in the Grecians final game of the 2018/19 season.