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Brisbane have sacked coach Kevin Walters, 12 months after the Broncos mentor took his side to the NRL grand final.

Kevin Walters has coached his last game for Brisbane after paying the price for their stunning fall from NRL grand finalists to also-rans.

The Broncos confirmed on Thursday they had parted ways with Walters, after a fall from grace that ended with a 12th-placed finish in 2024.

"Aside from playing here, it's been the greatest thrill and honour of my life to have coached the Broncos," Walters said in a statement.

"Coaching in the NRL takes a toll, not just on the coach but also their family. 

"It's time for me to step away and spend some quality time with my loved ones, who have supported me all the way over the last four years.

"I'm grateful to the club for providing me with the opportunity to be head coach, and we have come a long way from the wooden spoon to last year's run to the grand final.

"I wish the team and the club all the best."

Walters took over the Broncos at their lowest ebb, after a disastrous 2020 season that ended with a wooden spoon.

They rebounded to be in the top four midway through 2022, before an end-of-season capitulation left them out of the finals.

Brisbane then reached their first grand final in eight years under Walters last year, and had a hand on the trophy before Nathan Cleary's heroics for Penrith.

Injuries and a mid-season form slump then killed off their 2024 campaign, leaving them 12th on the ladder and one of the great disappointments of the season.

"We owe a debt of gratitude to Kevin, for the enormous role he's played as head coach over the past four years," CEO Dave Donaghy said.

"Kevin put his heart and soul into the club during his time as coach. 

"He is one of the most passionate people you will ever meet when it comes to the Broncos, and that helped lift us out of a really difficult time.

"While we will miss Kev and his infectious personality on a daily basis, we certainly don't want one of the Broncos' favourite sons not to stay involved with our great club."

Walters coached 99 games at the Broncos, winning 50 matches in total.

Brisbane have Trent Barrett on their coaching staff for next season, with the club to begin a search for their next mentor.