Guiding Degerfors to promotion to the Allsvenskan and then keeping them clear of the relegation zone was not enough to keep Lundin in his job - he departs with the side 11th in the table.
After making a bright start with three wins in their first five on their return to the top flight, Degerfors have just one win in their last seven and have been defeated in all of their last three outings. The most loss recent was a 2-1 home defeat to fellow newly-promoted side Oster.
Lundin becomes the second manager in the Allsvenskan to lose his job this season after Ferran Sibila was sacked by Varnamo, who sit at the foot of the table, in April.
A former assistant and caretaker at Goteborg, Lundin took over at Degerfors at the beginning of the 2024 season, leading them to the Superettan title, one point clear of Oster, to ensure the Bruket returned to the Allsvenskan at the first time of asking.
Degerfors are yet to announce their successor, and their next league fixture will be on 29th June at home to Brommapojkarna.